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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2016
Real Estate [Abstract]  
Other Real Estate Owned
Other Real Estate Owned
(In Thousands)
The following table provides details of the Company’s other real estate owned (“OREO”) purchased and non purchased, net of valuation allowances and direct write-downs, as of the dates presented:
 
Purchased OREO
 
Non Purchased OREO
 
Total
OREO
December 31, 2016
 
 
 
 
 
Residential real estate
$
2,230

 
$
699

 
$
2,929

Commercial real estate
6,401

 
1,680

 
8,081

Residential land development
2,344

 
1,688

 
4,032

Commercial land development
6,395

 
1,862

 
8,257

Total
$
17,370

 
$
5,929

 
$
23,299

December 31, 2015
 
 
 
 
 
Residential real estate
$
2,707

 
$
2,087

 
$
4,794

Commercial real estate
6,283

 
5,104

 
11,387

Residential land development
1,717

 
2,879

 
4,596

Commercial land development
11,709

 
2,916

 
14,625

Total
$
22,416

 
$
12,986

 
$
35,402


Changes in the Company’s purchased and non purchased OREO were as follows:
 
Purchased OREO
 
Non Purchased OREO
 
Total
OREO
Balance at December 31, 2014
$
17,386

 
$
17,086

 
$
34,472

Purchased OREO
9,972

 
—

 
9,972

Transfers of loans
11,642

 
3,293

 
14,935

Impairments(1)
(1,033
)
 
(1,486
)
 
(2,519
)
Dispositions
(15,551
)
 
(5,873
)
 
(21,424
)
Other
—

 
(34
)
 
(34
)
Balance at December 31, 2015
$
22,416

 
$
12,986

 
$
35,402

Purchased OREO
—

 
—

 
—

Transfers of loans
7,935

 
935

 
8,870

Impairments(1)
(1,631
)
 
(1,484
)
 
(3,115
)
Dispositions
(11,071
)
 
(6,458
)
 
(17,529
)
Other
(279
)
 
(50
)
 
(329
)
Balance at December 31, 2016
$
17,370

 
$
5,929

 
$
23,299

(1)
Of the total impairment charges of $2,519 recorded for OREO in 2015, $2,157 was included in the Consolidated Statements of Income for the year ended December 31, 2015, while the remaining $362 increased the FDIC loss-share indemnification asset. Of the total impairment charges of $3,115 recorded for OREO in 2016, $3,018 was included in the Consolidated Statements of Income for the year ended December 31, 2016, while the remaining $97 increased the FDIC loss share indemnification asset prior to the termination of the Company's loss share agreements effective December 8, 2016.

Components of the line item “Other real estate owned” in the Consolidated Statements of Income were as follows:
 
Year Ended December 31,
 
2016
 
2015
 
2014
Repairs and maintenance
$
962

 
$
840

 
$
2,129

Property taxes and insurance
1,374

 
809

 
372

Impairments
3,018

 
2,157

 
2,434

Net (gains) losses on OREO sales
590

 
(582
)
 
(151
)
Rental income
(248
)
 
(179
)
 
(191
)
Total
$
5,696

 
$
3,045

 
$
4,593