Foreclosed Real Estate

9 Months Ended

Sep. 30, 2016

Real Estate [Abstract]

Foreclosed Real Estate

Note (5)—Foreclosed real estate:

The amount reported as real estate acquired through foreclosure proceedings is carried at fair value less estimated cost to sell the property. The following table summarizes the foreclosed real estate for the three and nine months ended September 30, 2016 and 2015 (in thousands):

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2016			2015			2016			2015
Balance at beginning of period	$	9,902		$	6,199		$	11,641		$	7,259
Acquired through merger with NWGB		—			5,002			—			5,002
Transfers from loans		460			1,057			2,636			2,284
Capital improvements		—			35			—			35
Property sold		(3,044	)		(447	)		(6,558	)		(2,205	)
Gain on sale of foreclosed assets		1,680			23			1,749			127
Transferred to loans		—			(194	)		(259	)		(785	)
Write-downs and partial liquidations		(34	)		(128	)		(245	)		(170	)
Balance at end of period	$	8,964		$	11,547		$	8,964		$	11,547

Foreclosed residential real estate properties included in the table above totaled $2,796 and $2,715 as of September 30, 2016 and December 31, 2015, respectively. The recorded investment in residential mortgage loans secured by residential real estate properties for which foreclosure proceedings are in process totaled $- and $67 at September 30, 2016 and December 31, 2015, respectively.