OTHER REAL ESTATE OWNED

9 Months Ended

Sep. 30, 2016

Other Real Estate [Abstract]

Other Real Estate Owned

NOTE 4 – OTHER REAL ESTATE OWNED

The following table presents other real estate owned activity for the periods indicated.

	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in Thousands)	2016		2015		2016		2015
Beginning Balance	$	14,622	$	30,167	$	19,290	$	35,680
Additions		890		1,242		3,309		4,072
Valuation Write-downs		(397)		(269)		(1,910)		(1,575)
Sales		(2,377)		(5,921)		(7,951)		(12,684)
Other		-		-		-		(274)
Ending Balance	$	12,738	$	25,219	$	12,738	$	25,219

Net expenses applicable to other real estate owned include the following:
	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in Thousands)	2016		2015		2016		2015
Gains from the Sale of Properties	$	(70)	$	(31)	$	(364)	$	(686)
Losses from the Sale of Properties		216		591		977		1,249
Rental Income from Properties		(34)		(13)		(66)		(244)
Property Carrying Costs		312		486		849		1,836
Valuation Adjustments		397		269		1,910		1,575
Total	$	821	$	1,302	$	3,306	$	3,730

As of September 30, 2016 the Company had $1.6 million of loans secured by residential real estate in the process of foreclosure.