Note 7 - Other Real Estate Owned

6 Months Ended

Jun. 30, 2018

Notes to Financial Statements

Real Estate Owned [Text Block]

7. Other Real Estate Owned

OREO are included in other assets on the Company’s Consolidated Statements of Financial Condition. The following table shows changes in OREO during the periods indicated:

	For the three months ended June 30,					For the six months ended June 30,
	2018			2017		2018			2017
	(In thousands)
Balance at beginning of period	$	638		$	-	$	-		$	533
Acquisitions		-			-		638			-
Sales		(638	)		-		(638	)		(533	)
Balance at end of period	$	-		$	-	$	-		$	-

The following table shows the gross gains, gross losses and write-downs of OREO reported in the Consolidated Statements of Income during the periods indicated:

	For the three months ended June 30,				For the six months ended June 30,
	2018		2017		2018		2017
	(In thousands)				(In thousands)
Gross gains	$	27	$	-	$	27	$	50

During the

six

months ended

June 30, 2018

we foreclosed on

one

residential real estate property for

$0.6

million. During the

three

months ended

June 30, 2018

and the

three

and

six

months ended

June 30, 2017,

we did

not

foreclose on any consumer mortgages through in-substance repossession. We did

not

hold any foreclosed residential real estate properties at

June 30, 2018

and

December 31, 2017.

Included within net loans as of

June 30, 2018

and

December 31, 2017

was a recorded investment of

$9.8

million and

$10.5

million, respectively, 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.