Note 8 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2016

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 dates indicated:

(In thousands)	March 31, 2016		December 31, 2015
Construction and land development	$	12,703	$	12,997
Residential real estate		850		960
Farmland and other commercial enterprises		7,445		7,886
Total	$	20,998	$	21,843

OREO activity for the three months ended March 31, 2016 and 2015 was as follows:

Three months ended March 31, (In thousands)	2016			2015
Beginning balance	$	21,843		$	31,960
Transfers from loans and other increases		551			206
Proceeds from sales		(778	)		(2,540	)
(Loss) gain on sales, net		(21	)		74
Write downs and other decreases, net		(597	)		-
Ending balance	$	20,998		$	29,700

At March 31, 2016, the Company had a total of $1.7 million of loans secured by residential real estate mortgages that were in the process of foreclosure.