Other Real Estate Owned

9 Months Ended

Sep. 30, 2017

Real Estate [Abstract]

Other Real Estate Owned

Note 7. Other Real Estate Owned

The activity within Other Real Estate Owned (“OREO”) for the three and nine months ended September 30, 2017 and 2016 is presented in the table below. There were no residential real estate loans in the process of foreclosure as of September 30, 2017. For the three and nine months ended September 30, 2017, proceeds on sale of OREO were $1.2 million and $2.1 million. For the three months ended September 30, 2017, there were two OREO properties with a total carrying value of $1.1 million were sold for a net gain of $60 thousand. For the nine months ended September 30, 2017, there were a total of three OREO properties sold for a net loss of $301 thousand.

	Three Months Ended September 30,						Nine Months Ended September 30,
(dollars in thousands)	2017			2016			2017			2016
Balance beginning of period	$	1,394		$	3,152		$	2,694		$	5,852
Real estate acquired from borrowers		1,145			2,500			1,145			2,500
Valuation allowance		—			—			—			(200	)
Properties sold		(1,145	)		(458	)		(2,445	)		(2,958	)
Balance end of period	$	1,394		$	5,194		$	1,394		$	5,194