Note 8 - Other Real Estate Owned

6 Months Ended

Jun. 30, 2016

Notes to Financial Statements

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)	June 30, 2016		December 31, 2015
Construction and land development	$	8,315	$	12,997
Residential real estate		873		960
Farmland and other commercial enterprises		7,745		7,886
Total	$	16,933	$	21,843

OREO activity for the six months ended June 30, 2016 and 2015 was as follows:

Six months ended June 30, (In thousands)	2016			2015
Beginning balance	$	21,843		$	31,960
Transfers from loans and other increases		1,474			475
Proceeds from sales		(5,527	)		(5,664	)
(Loss) gain on sales, net		(125	)		9
Write downs and other decreases, net		(732	)		(566	)
Ending balance	$	16,933		$	26,214

At June 30, 2016, the Company had a total of $448 thousand of loans secured by residential real estate mortgages that were in the process of foreclosure.