Note 7 - Other Real Estate Owned

6 Months Ended

Jun. 30, 2019

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					For the six months ended
	June 30,					June 30,
	2019		2018			2019		2018
	(In thousands)
Balance at beginning of period	$	-	$	638		$	-	$	-
Acquisitions		239		-			239		638
Sales		-		(638	)		-		(638	)
Balance at end of period	$	239	$	-		$	239	$	-

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				For the six months ended
	June 30,				June 30,
	2019		2018		2019		2018
	(In thousands)
Gross gains	$	-	$	27	$	-	$	27

Included within net loans as of June 30, 2019 and December 31, 2018 was a recorded investment of $7.1 million and $7.2 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.