Note 5 - Foreclosed Properties

9 Months Ended

Sep. 30, 2013

Valuation Allowance On Foreclosed Properties [Abstract]

Valuation Allowance On Foreclosed Properties [Text Block]

Note 5. Foreclosed Properties

Changes in foreclosed properties for the nine months ended September 30, 2013 were as follows:

(Dollars In Thousands)	Other Real Estate Owned			Valuation Allowance			Net
Balance at the beginning of the year	$	9,513		$	(575	)	$	8,938
Additions		1,613			-			1,613
Writedowns		-			(377	)		(377	)
Sales		(2,023	)		249			(1,774	)
Balance at the end of period	$	9,103		$	(703	)	$	8,400

Changes in foreclosed properties for the nine months ended September 30, 2012 were as follows:

(Dollars In Thousands)	Other Real Estate Owned			Valuation Allowance			Net
Balance at the beginning of the year	$	9,893		$	(331	)	$	9,562
Additions		1,641			-			1,641
Writedowns		-			(100	)		(100	)
Sales		(1,188	)		175			(1,013	)
Balance at the end of period	$	10,346		$	(256	)	$	10,090

The major classifications of other real estate owned in the consolidated balance sheets at September 30, 2013 and December 31, 2012 were as follows:

(Dollars In Thousands)	September 30, 2013		December 31, 2012
Construction loans:
Residential	$	-	$	588
Land acquisition, development & commercial		4,291		3,591
Real estate:
Residential		-		182
Commercial		2,663		2,905
Commercial, Industrial & agricultural		1,164		1,164
Equity lines		282		508
	$	8,400	$	8,938