Other Real Estate Owned

3 Months Ended

Mar. 31, 2017

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
March 31, 2017
Residential real estate	$	2,120	$	861	$	2,981
Commercial real estate	6,427		1,496		7,923
Residential land development	2,215		1,049		3,264
Commercial land development	5,504		1,650		7,154
Total	$	16,266	$	5,056	$	21,322
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

Changes in the Company’s purchased and non purchased OREO were as follows:

	Purchased OREO			Non Purchased OREO			Total OREO
Balance at January 1, 2017	$	17,370		$	5,929		$	23,299
Transfers of loans	2,985			183			3,168
Capitalized improvements	—			—			—
Impairments	(229		)	(149		)	(378		)
Dispositions	(3,516		)	(1,203		)	(4,719		)
Other	(344		)	296			(48		)
Balance at March 31, 2017	$	16,266		$	5,056		$	21,322

Components of the line item “Other real estate owned” in the Consolidated Statements of Income were as follows for the periods presented:

	Three Months Ended
	March 31,
	2017			2016
Repairs and maintenance	$	197		$	197
Property taxes and insurance	332			470
Impairments	378			294
Net (gains) losses on OREO sales	(327		)	50
Rental income	(48		)	(54		)
Total	$	532		$	957