Other Real Estate Owned (Notes)

6 Months Ended

Jun. 30, 2016

Banking and Thrift [Abstract]

Real Estate Owned

NOTE 14. Other Real Estate Owned

The following table is a summary of other real estate owned (OREO) activity for the six months endedJune 30, 2016 and 2015 and the year ended December 31, 2015:

	Six Months Ended			Year Ended			Six Months Ended
	June 30,			December 31,			June 30,
	2016			2015			2015
	(in thousands)
Balance, beginning	$	571		$	2,102		$	2,102
Net loans transferred to OREO	—			867			561
Sales	—			(2,110		)	(402		)
Valuation adjustments	(47		)	(288		)	—
Balance, ending	$	524		$	571		$	2,261

The major classifications of other real estate owned in the consolidated balance sheets at June 30, 2016 and December 31, 2015 were as follows:

	As of
	June 30, 2016		December 31, 2015
	(in thousands)
Construction and Farmland	$	806	$	806
Residential Real Estate	—		—
Commercial Real Estate	—		—
Subtotal	$	806	$	806
Less valuation allowance	282		235
Total	$	524	$	571

There was one consumer mortgage loan collateralized by residential real estate in the amount of $185 thousand in the process of foreclosure at June 30, 2016. There were no consumer mortgage loans collateralized by residential real estate in the process of foreclosure at December 31, 2015.