Other Real Estate Owned

9 Months Ended

Sep. 30, 2018

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, 2018
Residential real estate	$	501	$	1,485	$	1,986
Commercial real estate	2,978		1,656		4,634
Residential land development	706		575		1,281
Commercial land development	3,747		949		4,696
Total	$	7,932	$	4,665	$	12,597
December 31, 2017
Residential real estate	$	1,683	$	758	$	2,441
Commercial real estate	4,314		1,624		5,938
Residential land development	1,100		781		1,881
Commercial land development	4,427		1,247		5,674
Total	$	11,524	$	4,410	$	15,934

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

	Purchased OREO			Non Purchased OREO			Total OREO
Balance at January 1, 2018	$	11,524		$	4,410		$	15,934
Transfers of loans	620			2,037			2,657
Impairments	(727		)	(403		)	(1,130		)
Dispositions	(3,483		)	(1,333		)	(4,816		)
Other	(2		)	(46		)	(48		)
Balance at September 30, 2018	$	7,932		$	4,665		$	12,597

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,
	2018			2017			2018			2017
Repairs and maintenance	$	74		$	206		$	242		$	602
Property taxes and insurance	38			87			187			495
Impairments	380			697			1,129			1,454
Net gains on OREO sales	(213		)	(350		)	(356		)	(488		)
Rental income	(1		)	(37		)	(35		)	(147		)
Total	$	278		$	603		$	1,167		$	1,916