Other Real Estate Owned

6 Months Ended

Jun. 30, 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
June 30, 2017
Residential real estate	$	1,392	$	521	$	1,913
Commercial real estate	7,145		1,362		8,507
Residential land development	1,707		913		2,620
Commercial land development	5,165		1,509		6,674
Total	$	15,409	$	4,305	$	19,714
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	3,925			302			4,227
Capitalized improvements	—			—			—
Impairments	(379		)	(378		)	(757		)
Dispositions	(5,142		)	(1,844		)	(6,986		)
Other	(365		)	296			(69		)
Balance at June 30, 2017	$	15,409		$	4,305		$	19,714

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						Six Months Ended
	June 30,						June 30,
	2017			2016			2017			2016
Repairs and maintenance	$	199		$	409		$	396		$	606
Property taxes and insurance	76			148			408			618
Impairments	379			987			757			1,281
Net losses (gains) on OREO sales	189			181			(138		)	231
Rental income	(62		)	(111		)	(110		)	(165		)
Total	$	781		$	1,614		$	1,313		$	2,571