Other Real Estate and Repossessed Assets

3 Months Ended

Mar. 31, 2017

Other Real Estate [Abstract]

Other Real Estate and Repossessed Assets

(3) Other Real Estate and Repossessed Assets

	March 31,			December 31,
(in thousands)	2017			2016
Commercial	$	783		$	809
Real estate construction - commercial		12,380			12,380
Real estate mortgage - residential		584			647
Real estate mortgage - commercial		2,909			3,439
Repossessed assets		13			16
Total	$	16,669		$	17,291
Less valuation allowance for other real estate owned		(3,044	)		(3,129	)
Total other real estate and repossessed assets	$	13,625		$	14,162

Changes in the net carrying amount of other real estate and repossessed assets were as follows for the periods indicated:

	Three Months Ended March 31,
	2017			2016
Balance at beginning of period	$	17,291		$	19,225
Additions		103			742
Proceeds from sales		(658	)		(1,274	)
Charge-offs against the valuation allowance for other real estate owned, net		(117	)		(46	)
Net gain on sales		50			49
Total other real estate and repossessed assets	$	16,669		$	18,696
Less valuation allowance for other real estate owned		(3,044	)		(3,225	)
Balance at end of period	$	13,625		$	15,471

At March 31, 2017 $194,000 of consumer mortgage loans secured by residential real estate properties were in the process of foreclosure compared to $162,000 at December 31, 2016.

Activity in the valuation allowance for other real estate owned was as follows for the periods indicated:

	Three Months Ended March 31,
(in thousands)	2017			2016
Balance, beginning of period	$	3,129		$	3,233
Provision for other real estate owned		32			38
Charge-offs		(117	)		(46	)
Balance, end of period	$	3,044		$	3,225