Note 5 - Other Real Estate Owned

9 Months Ended

Sep. 30, 2018

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

September 30, 2018

and

December 31, 2017

was

$2,173

and

$4,256,

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

nine

months ended

September 30, 2018

and the year ended

December 31, 2017.

	Nine Months Ended			Twelve Months Ended
	September 30, 2018			December 31, 2017
Balance, Beginning	$	4,256		$	6,439
Additions		674			1,725
Sales of OREO		(2,718	)		(3,787	)
Gains (Losses) on Sale		162			213
Provision for Losses		(201	)		(334	)
Balance, Ending	$	2,173		$	4,256

At

September 30, 2018,

the Company held

$485

thousand of residential real estate property as foreclosed property compared to

$479

thousand as of

December 31, 2017. 

Also at

September 30, 2018,

$71

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, 2017,

only

$184

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.