Note 6 - Other Real Estate Owned

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

Real Estate Owned [Text Block]

NOTE

6.

OTHER REAL ESTATE OWNED

At

March

31,

2017,

and

December

31,

2016,

the recorded investment in OREO was

$814

thousand and

$759

thousand, respectively. During the

three

months ended

March

31,

2017,

we transferred

four

foreclosed properties in the amount of

$121

thousand to OREO and we sold

two

properties with a balance of

$66

thousand for a net loss of

$71

thousand. The

March

31,

2017

OREO balance consists of

four

1

-

4

family residential real estate property in the amount of

$121

thousand,

two

nonfarm nonresidential properties in the amount of

$581

thousand and

one

undeveloped commercial property in the amount of

$112

thousand. The recorded investment in consumer mortgage loans collateralized by residential real estate property that are in the process of foreclosure is

$1.0

million.