OTHER REAL ESTATE OWNED

9 Months Ended

Sep. 30, 2017

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)	2017		2016		2017		2016
Beginning Balance	$	7,968	$	14,622	$	10,638	$	19,290
Additions		339		890		2,024		3,309
Valuation Write-downs		(350)		(397)		(1,118)		(1,910)
Sales		(1,970)		(2,377)		(5,291)		(7,951)
Other		-		-		(266)		-
Ending Balance	$	5,987	$	12,738	$	5,987	$	12,738

Net expenses applicable to other real estate owned include the following:
	Three Months Ended September 30,				Nine Months Ended September 30,
(Dollars in Thousands)	2017		2016		2017		2016
Gains from the Sale of Properties	$	(711)	$	(70)	$	(980)	$	(364)
Losses from the Sale of Properties		123		216		318		977
Rental Income from Properties		(19)		(34)		(73)		(66)
Property Carrying Costs		139		312		397		849
Valuation Adjustments		350		397		1,118		1,910
Total	$	(118)	$	821	$	780	$	3,306

As of September 30, 2017, the Company had $0.8 million of loans secured by residential real estate in the process of foreclosure.