OTHER REAL ESTATE OWNED

6 Months Ended

Jun. 30, 2017

Other Real Estate [Abstract]

Other Real Estate Owned

NOTE 4 – OTHER REAL ESTATE OWNED

The following table presents other real estate owned activity for the periods indicated.

	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in Thousands)	2017		2016		2017		2016
Beginning Balance	$	9,501	$	17,450	$	10,638	$	19,290
Additions		144		1,218		1,685		2,419
Valuation Write-downs		(275)		(678)		(769)		(1,513)
Sales		(1,209)		(3,368)		(3,320)		(5,574)
Other		(193)		-		(266)		-
Ending Balance	$	7,968	$	14,622	$	7,968	$	14,622

Net expenses applicable to other real estate owned include the following:
	Three Months Ended June 30,				Six Months Ended June 30,
(Dollars in Thousands)	2017		2016		2017		2016
Gains from the Sale of Properties	$	(162)	$	(166)	$	(268)	$	(294)
Losses from the Sale of Properties		93		392		195		761
Rental Income from Properties		(22)		(32)		(54)		(32)
Property Carrying Costs		131		188		257		537
Valuation Adjustments		275		678		768		1,513
Total	$	315	$	1,060	$	898	$	2,485

As of June 30, 2017, the Company had $0.7 million of loans secured by residential real estate in the process of foreclosure.