Other Real Estate Owned

9 Months Ended

Sep. 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
September 30, 2017
Residential real estate	$	1,780	$	847	$	2,627
Commercial real estate	5,552		1,401		6,953
Residential land development	1,233		829		2,062
Commercial land development	4,731		1,447		6,178
Total	$	13,296	$	4,524	$	17,820
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
Acquired OREO	1,203			—			1,203
Transfers of loans	4,513			905			5,418
Capitalized improvements	—			—			—
Impairments	(935		)	(519		)	(1,454		)
Dispositions	(8,474		)	(2,262		)	(10,736		)
Other	(381		)	471			90
Balance at September 30, 2017	$	13,296		$	4,524		$	17,820

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						Nine Months Ended
	September 30,						September 30,
	2017			2016			2017			2016
Repairs and maintenance	$	206		$	209		$	602		$	815
Property taxes and insurance	87			127			495			745
Impairments	697			1,048			1,454			2,330
Net losses (gains) on OREO sales	(350		)	204			(488		)	435
Rental income	(37		)	(48		)	(147		)	(214		)
Total	$	603		$	1,540		$	1,916		$	4,111