Note 8 - Other Real Estate Owned

9 Months Ended

Sep. 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)	September 30, 2016		December 31, 2015
Construction and land development	$	8,094	$	12,997
Residential real estate		1,095		960
Farmland and other commercial enterprises		6,147		7,886
Total	$	15,336	$	21,843

OREO activity for the nine months ended September 30, 2016 and 2015 was as follows:

Nine months ended September 30, (In thousands)	2016			2015
Beginning balance	$	21,843		$	31,960
Transfers from loans and other increases		1,790			1,274
Proceeds from sales		(6,996	)		(9,642	)
Gain (loss) on sales, net		30			(129	)
Write downs and other decreases, net		(1,331	)		(595	)
Ending balance	$	15,336		$	22,868

At September 30, 2016, the Company had a total of $606 thousand of loans secured by residential real estate mortgages that were in the process of foreclosure.