Note 5 - Foreclosed Properties

9 Months Ended

Sep. 30, 2014

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, 2014 were as follows:

(Dollars In Thousands)	Other Real Estate Owned			Valuation Allowance			Net
Balance at the beginning of the year	$	9,078		$	(935	)	$	8,143
Additions		1,520			-			1,520
Writedowns		-			-			-
Sales		(1,399	)		422			(977	)
Balance at the end of the period	$	9,199		$	(513	)	$	8,686

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 the period	$	9,103		$	(703	)	$	8,400

The major classifications of other real estate owned in the consolidated balance sheets at September 30, 2014 and December 31, 2013 were as follows:

(Dollars In Thousands)	September 30, 2014		December 31, 2013
Residential commercial	$	220	$	-
Residential lots		3,023		3,472
Residential development		423		-
Commercial lots		1,075		1,076
Commercial buildings		3,945		3,595
Total Other Real Estate Owned	$	8,686	$	8,143