Other Real Estate Owned (OREO) (Tables)

12 Months Ended

Dec. 31, 2017

An analysis of the balance in OREO is as follows:

	Years Ended December 31,
	2017			2016
	(in thousands)
Balance at beginning of year	$	2,093		$	5,290
Transfers to OREO due to foreclosure		-			-
Other additions to foreclosed properties		-			52
Closed branch locations transferred to OREO		-			127
Properties sold		(2,093	)		(3,376	)
Balance at end of year	$	-		$	2,093

An analysis of the valuation allowance on OREOs is as follows:

	Years Ended December 31,
	2017			2016
	(in thousands)
Balance at beginning of year	$	1,026		$	2,549
Additions and write-downs		-			60
Reductions due to sales or increases in value		(1,026	)		(1,583	)
Balance at end of year	$	-		$	1,026

Expenses applicable to OREOs include the following:

	Years Ended December 31,
	2017			2016		2015
	(in thousands)
Net loss (gain) on sales of real estate	$	(18	)	$	94	$	-54
Provision for losses (net write-downs)		-			60		1,011
Operating expenses, net of income (1)		10			160		219
Total Expenses	$	(8	)	$	314	$	1,176

(1) Included in other operating income and other operating expense on the Consolidated Statements of Operations.