Note 8 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2015

Disclosure Text Block [Abstract]

Real Estate Owned [Text Block]

8.Other Real Estate Owned

Other real estate owned (“OREO”) was as follows as of the date indicated:

(In thousands)	March 31, 2015		December 31, 2014
Construction and land development	$	16,239	$	17,628
Residential real estate		1,685		2,219
Farmland and other commercial enterprises		11,776		12,113
Total	$	29,700	$	31,960

OREO activity for the three months ended March 31, 2015 and 2014 was as follows:

Three months ended March 31, (In thousands)	2015			2014
Beginning balance	$	31,960		$	37,826
Transfers from loans and other increases		206			335
Proceeds from sales		(2,540	)		(1,901	)
Gain on sales, net		74			90
Write downs and other decreases, net		-			(906	)
Ending balance	$	29,700		$	35,444

At March 31, 2015, the Company had a total of $1.4 million of loans secured by residential real estate mortgages that were in the process of foreclosure.