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Note 5 - Other Real Estate Owned
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Real Estate Owned [Text Block]
5.
Other Real Estate Owned
 
The following table shows the activity in OREO during the periods indicated:
 
    For the years ended December 31,
    2016   2015   2014
    (In thousands)
             
Balance at beginning of year   $
4,932
     $
6,326
     $
2,985
  
Acquisitions    
639
      
1,667
      
7,112
  
Reductions to carrying value    
(1,763
 )    
(896
 )    
(5
 )
Sales    
(3,275
 )    
(2,165
 )    
(3,766
 )
                         
Balance at end of year   $
533
     $
4,932
     $
6,326
  
 
OREO is included in “Other assets” within our Consolidated Statements of Financial Condition.
 
The following table shows the gross gains, gross losses and write-downs of OREO reported in the Consolidated Statements of Income in “Other operating expenses” during the periods presented:
 
    For the years ended December 31,
    2016   2015   2014
    (In thousands)
             
Gross gains   $
37
     $
306
     $
178
  
Gross losses    
(275
 )    
(6
 )    
(109
 )
Write-down of carrying value    
(1,763
 )    
(896
 )    
(5
 )
                         
Total   $
(2,001
 )   $
(596
 )   $
64
  
 
We
may
obtain physical possession of residential real estate collateralizing a consumer mortgage loan via foreclosure on an in-substance repossession. During the year ended
December
31,
2016,
we did
not
foreclose on any consumer mortgages through in-substance repossession. We held foreclosed residential real estate totaling
$0.5
million and
$0.1
million at
December
31,
2016
and
2015,
respectively. Included within net loans as of
December
31,
2016,
was a recorded investment of
$11.4
million of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction.