Other Real Estate Owned

3 Months Ended

Mar. 31, 2017

Other Real Estate Owned [Abstract]

Other Real Estate Owned

Note 8 - Other Real Estate Owned

The following table presents the components of other real estate owned (“OREO”) at March 31, 2017 and December 31, 2016:

(in thousands)	March 31, 2017		December 31, 2016
Commercial real estate	$	4,028	$	3,803
Acquisition and development		5,757		5,944
Residential mortgage		1,217		1,163
Total OREO	$	11,002	$	10,910

The following table presents the activity in the OREO valuation allowance for the three-month periods ended March 31, 2017 and 2016:

	For the Three Months Ended
	March 31,
(in thousands)	2017		2016
Balance beginning of period	$	3,535	$	4,430
Fair value write-down		70		9
Sales of OREO		(289)		(615)
Balance at end of period	$	3,316	$	3,824

The following table presents the components of OREO expenses, net, for the three-month periods ended March 31, 2017 and 2016:

	For the Three Months Ended
	March 31,
(in thousands)	2017		2016
Gains on real estate, net	$	(30)	$	(67)
Fair value write-down, net		70		9
Expenses, net		169		169
Rental and other income		(35)		(27)
Total OREO expense, net	$	174	$	84