Note 6 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Real Estate Owned [Text Block]

(

6

)

Other Real Estate Owned

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

March 31, 2019

and

December 31, 2018

was

$1,635

and

$1,841,

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, 2019

and the year ended

December 31, 2018.

	Three Months Ended			Twelve Months Ended
	March 31, 2019			December 31, 2018
Balance, Beginning	$	1,841		$	4,256
Additions		144			793
Sales of OREO		(348	)		(2,949	)
Transfer to Bank Premises		-			(300	)
Gains (Losses) on Sale		4			303
Provision for Losses		(6	)		(262	)
Balance, Ending	$	1,635		$	1,841

At

March 31, 2019,

the Company held

$359

thousand of residential real estate property as foreclosed property compared to

$565

thousand as of

December 31, 2018. 

Also at

March 31, 2019,

$157

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, 2018,

only

$25

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.