Foreclosed Assets

3 Months Ended

Mar. 31, 2015

Banking and Thrift [Abstract]

Foreclosed Assets

Foreclosed Assets

Foreclosed assets are included in other assets on the Company's balance sheet and totaled $7.9 million as of March 31, 2015 and $7.7 million as of December 31, 2014. The carrying value of foreclosed residential real estate included within foreclosed assets totaled $618,000 as of March 31, 2015 and $295,000 as of December 31, 2014.

Included within loans receivable as of March 31, 2015 was a recorded investment of $1.7 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.