Note 8 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2017

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 dates indicated:

(In thousands)	March 31 , 2017		December 31, 2016
Construction and land development	$	6,049	$	7,996
Residential real estate		371		871
Farmland and other commercial enterprises		1,580		1,806
Total	$	8,000	$	10,673

OREO activity for the

three

months ended

March

31,

2017

and

2016

was as follows:

Three months ended March 31, (In thousands)	2017			2016
Beginning balance	$	10,673		$	21,843
Transfers from loans and other increases		193			551
Proceeds from sales		(2,871	)		(778	)
Gain (loss) on sales, net		115			(21	)
Write downs and other decreases, net		(110	)		(597	)
Ending balance	$	8,000		$	20,998

At

March

31,

2017,

the Company had a total of

$1.2

million of loans secured by residential real estate mortgages that were in the process of foreclosure.