Other Real Estate

12 Months Ended

Dec. 31, 2016

Other Real Estate [Abstract]

Other Real Estate

8. Other Real Estate

The Bank reported $3.7 million in other real estate at December 31, 2016, and $2.4 million at December 31, 2015. The acquisition of Delta National Bancorp added $3.0 million of ORE to the Company. Other real estate includes property no longer utilized for business operations and property acquired through foreclosure proceedings. These properties are carried at fair value less selling costs determined at the date acquired. Losses, if any, arising from properties acquired through foreclosure are charged against the allowance for loan losses at the time of foreclosure. Subsequent declines in value, periodic holding costs, and net gains or losses on disposition are included in other operating expense as incurred. Other real estate is reported in Interest Receivable and Other Assets on the Company’s Consolidated Balance Sheets.