Note 5 - Other Real Estate Owned

6 Months Ended

Jun. 30, 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

June 30, 2017

and

December 31, 2016

was

$4,525

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

six

months ended

June 30, 2017

and the year ended

December 31, 2016.

	Six Months Ended			Twelve Months Ended
	June 30, 2017			December 31, 2016
Balance, Beginning	$	6,439		$	8,839
Additions		432			5,664
Sales of OREO		(2,236	)		(7,416	)
Gains (Losses) on Sale		96			(146	)
Provision for Losses		(206	)		(502	)
Balance, Ending	$	4,525		$	6,439

At

June 30, 2017,

the Company held

$423

thousand of residential real estate property as foreclosed property compared to

$431

thousand as of

December 31, 2016. 

Also at

June 30, 2017,

$317

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.