Other Real Estate Owned

6 Months Ended

Jun. 30, 2017

Other Real Estate Owned [Abstract]

Other Real Estate Owned

Note 8 - Other Real Estate Owned

The following table presents the components of OREO at June 30, 2017 and December 31, 2016:

(in thousands)	June 30, 2017		December 31, 2016
Commercial real estate	$	4,683	$	3,779
Acquisition and development		5,621		5,944
Commercial and industrial		24		24
Residential mortgage		1,228		1,163
Total OREO	$	11,556	$	10,910

The following table presents the activity in the OREO valuation allowance for the six- and three-month periods ended June 30, 2017 and 2016:

	For the Six Months Ended				For the Three Months Ended
	June 30,				June 30,
(in thousands)	2017		2016		2017		2016
Balance beginning of period	$	3,535	$	4,430	$	3,316	$	3,824
Fair value write-down		93		97		23		88
Sales of OREO		(396)		(928)		(107)		(313)
Balance at end of period	$	3,232	$	3,599	$	3,232	$	3,599

The following table presents the components of OREO expenses, net, for the six- and three-month periods ended June 30, 2017 and 2016:

	For the Six Months Ended				For the Three Months Ended
	June 30,				June 30,
(in thousands)	2017		2016		2017		2016
Gains on real estate, net	$	(74)	$	(131)	$	(44)	$	(64)
Fair value write-down, net		93		97		23		88
Expenses, net		279		343		110		174
Rental and other income		(86)		(59)		(51)		(32)
Total OREO expense, net	$	212	$	250	$	38	$	166