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OTHER REAL ESTATE OWNED
 3 Months Ended
Mar. 31, 2017
Banking and Thrift [Abstract]  
OTHER REAL ESTATE OWNED
NOTE 7 – OTHER REAL ESTATE OWNED
 
The following is a summary of the activity in other real estate owned during the three months ended March 31, 2017 and 2016:
 
(dollars in thousands)
 
March 31,
2017
 
March 31,
2016
 
Beginning balance, January 1
 
$
10,874
 
$
16,147
 
Loans transferred to other real estate owned
 
 
1,657
 
 
1,044
 
Net gains (losses) on sale and write-downs recorded in statement of income
 
 
(322)
 
 
(736)
 
Sales proceeds
 
 
(1,743)
 
 
(1,488)
 
Ending balance
 
$
10,466
 
$
14,967
 
 
The following is a summary of the activity in purchased other real estate owned during the three months ended March 31, 2017 and 2016:
 
(dollars in thousands)
 
March 31,
2017
 
March 31,
2016
 
Beginning balance, January 1
 
$
12,540
 
$
19,344
 
Loans transferred to other real estate owned
 
 
1,489
 
 
1,401
 
Acquired in acquisitions
 
 
-
 
 
1,838
 
Portion of gains (losses) on sale and write-downs payable (receivable from) the FDIC under loss-sharing agreements
 
 
15
 
 
-
 
Net gains (losses) on sale and write-downs recorded in statement of income
 
 
449
 
 
(763)
 
Sales proceeds
 
 
(2,825)
 
 
(3,008)
 
Ending balance
 
$
11,668
 
$
18,812