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Other Real Estate Assets Owned (OREO) (Tables)
 9 Months Ended
Sep. 30, 2016
Other Real Estate [Abstract]  
Changes in the balance for OREO
Changes in the balance for OREO, net of valuation allowances, are as follows:
(Dollars in thousands)
September 30, 2016
 
December 31, 2015
Balance at the beginning of year, net
$
3,345

 
$
4,051

Transfers from loans and to premises and equipment, net
526

 
287

Sales proceeds
(224
)
 
(814
)
Gains (losses) on disposition
50

 
(100
)
Less valuation adjustments
(310
)
 
(79
)
Balance at the end of the period, net
$
3,387

 
$
3,345
Major classifications of OREO
The major classifications of OREO in the consolidated balance sheets at September 30, 2016 and December 31, 2015 were as follows:
(Dollars in thousands)
September 30, 2016
 
December 31, 2015
Real estate loans:
 
 
 
Construction
$
858

 
$
853

Secured by farmland
—

 
—

Secured by 1-4 family residential
2,169

 
1,958

Other real estate loans
360

 
534

Total real estate loans
$
3,387

 
$
3,345