Other Real Estate Owned (Notes)

9 Months Ended

Sep. 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 nine months endedSeptember 30, 2016 and 2015 and the year ended December 31, 2015:

	Nine Months Ended			Year Ended			Nine Months Ended
	September 30,			December 31,			September 30,
	2016			2015			2015
	(in thousands)
Balance, beginning	$	571		$	2,102		$	2,102
Net loans transferred to OREO	701			867			736
Sales	(409		)	(2,110		)	(937		)
Valuation adjustments	—			(288		)	(53		)
Balance, ending	$	863		$	571		$	1,848

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

	As of
	September 30, 2016		December 31, 2015
	(in thousands)
Construction and Farmland	$	162	$	806
Residential Real Estate	701		—
Commercial Real Estate	—		—
Subtotal	$	863	$	806
Less valuation allowance	—		235
Total	$	863	$	571

There were no consumer mortgage loans collateralized by residential real estate in the process of foreclosure at September 30, 2016 and no consumer mortgage loans collateralized by residential real estate in the process of foreclosure at December 31, 2015.