Other Real Estate Owned ("OREO") (Tables)

6 Months Ended

Jun. 30, 2017

Other Real Estate Owned ("OREO") [Abstract]

Analysis of OREO activity

NOTE 9 - OTHER REAL ESTATE OWNED (“OREO”)

OREO assets are presented net of valuation allowances. The Company considers OREO as classified assets for regulatory and financial reporting. An analysis of OREO activity follows.

	Six Months Ended June 30,			Years Ended December 31,
(dollars in thousands)		2017	2016	2016
Balance at beginning of year		$                  7,763	$                  9,449	$                  9,449
Additions of underlying property		2,772	2,718	3,120
Disposals of underlying property		(1,068)	(3,445)	(3,860)
Transfers to premises and equipment		-	-	(372)
Valuation allowance		(313)	(262)	(574)
Balance at end of period		$                  9,154	$                  8,460	$                  7,763

Expenses applicable to OREO assets

Expenses applicable to OREO assets included the following.

	Three Months Ended June 30,		Six Months Ended June 30,
(dollars in thousands)	2017	2016	2017	2016
Valuation allowance	$                      117	$                          7	$                      313	$                      262
Operating expenses	28	98	27	144
	$                      145	$                      105	$                      340	$                      406