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Other Real Estate Owned (Tables)
9 Months Ended
Sep. 30, 2017
Other Real Estate Owned [Abstract]  
Details of changes in other real estate owned

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended September 30, 2017

(In thousands)

    

Loans

    

Tax Liens

    

Total

Beginning balance

 

$

236

 

$

3,300

 

$

3,536

Net proceeds from sales

 

 

(214)

 

 

(1,916)

 

 

(2,130)

Net gains on sales

 

 

 5

 

 

399

 

 

404

Transfers in

 

 

 —

 

 

44

 

 

44

Cash additions

 

 

 —

 

 

35

 

 

35

Impairment charge

 

 

(27)

 

 

(182)

 

 

(209)

Ending balance

 

$

 —

 

$

1,680

 

$

1,680

 

At September 30, 2017, OREO was comprised of $1.7 million in tax liens. The properties acquired through the tax lien portfolio were primarily located in New Jersey.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2016

(In thousands)

    

Loans

    

Tax Liens

    

Total

Beginning balance

 

$

220

 

$

7,215

 

$

7,435

Net proceeds from sales

 

 

(7)

 

 

(5,458)

 

 

(5,465)

Net gain on sales

 

 

 1

 

 

677

 

 

678

Transfers in

 

 

28

 

 

831

 

 

859

Cash additions

 

 

 —

 

 

290

 

 

290

Impairment charge

 

 

(6)

 

 

(255)

 

 

(261)

Ending balance

 

$

236

 

$

3,300

 

$

3,536