Note 5 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Real Estate Owned [Text Block]

(5

)

Other Real Estate Owned

The aggregate carrying amount of Other Real Estate Owned (OREO) at

March

31,

2017

and

December

31,

2016

was

$5,899

and

$6,439,

respectively. All of the Company’s other real estate owned represents properties acquired through foreclosure or deed in lieu of foreclosure. The following table details the change in OREO for the

three

months ended

March

31,

2017

and the year ended

December

31,

2016.

	Three Months Ended			Twelve Months Ended
	March 31, 2017			December 31, 2016
Balance, Beginning	$	6,439		$	8,839
Additions		219			5,664
Sales of OREO		(738	)		(7,416	)
Gains (Losses) on Sale		35			(146	)
Provision for Losses		(56	)		(502	)
Balance, Ending	$	5,899		$	6,439

At

March

31,

2017,

the Company held

$496

thousand of residential real estate property as foreclosed property compared to

$431

thousand as of

December

31,

2016.

  Also at

March

31,

2017,

$307

thousand of consumer mortgage loans collateralized by residential real estate property were in the process of foreclosure according to local requirements of the applicable jurisdictions. At

December

31,

2016,

only

$204

thousand of consumer mortgage loans collateralized by residential real estate property were in the process of foreclosure according to local requirements of the applicable jurisdictions.