OTHER REAL ESTATE OWNED

3 Months Ended

Mar. 31, 2018

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 March 31,
(Dollars in Thousands)	2018		2017
Beginning Balance	$	3,941	$	10,638
Additions		307		1,541
Valuation Write-downs		(494)		(494)
Sales		(424)		(2,111)
Other		-		(73)
Ending Balance	$	3,330	$	9,501

Net expenses applicable to other real estate owned include the following:
	Three Months Ended March 31,
(Dollars in Thousands)	2018		2017
Gains from the Sale of Properties	$	(28)	$	(106)
Losses from the Sale of Properties		88		102
Rental Income from Properties		(3)		(32)
Property Carrying Costs		75		125
Valuation Adjustments		494		494
Total	$	626	$	583

As of March 31, 2018, the Company had $1.8 million of loans secured by residential real estate in the process of foreclosure.