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Note 5 - Other Real Estate Owned
 12 Months Ended
Dec. 31, 2015
Disclosure Text Block [Abstract]  
Real Estate Owned [Text Block]

5. Other Real Estate Owned


The following table shows the activity in OREO during the periods indicated:


    For the years ended December 31,
    2015   2014   2013
    (In thousands)
             
Balance at beginning of year   $ 6,326     $ 2,985     $ 5,278  
Acquisitions     1,667       7,112       5,369  
Reductions to carrying value     (896 )     (5 )     (243 )
Sales     (2,165 )     (3,766 )     (7,419 )
                         
Balance at end of year   $ 4,932     $ 6,326     $ 2,985  

OREO is included in “Other assets” within our Consolidated Statements of Financial Condition.


The following table shows the gross gains, gross losses and write-downs of OREO reported in the Consolidated Statements of Income in “Other operating expense” during the periods presented:


    For the years ended December 31,
    2015   2014   2013
    (In thousands)
             
Gross gains   $ 306     $ 178     $ 443  
Gross losses     (6 )     (109 )     (89 )
Write-down of carrying value     (896 )     (5 )     (243 )
                         
Total   $ (596 )   $ 64     $ 111  

We may obtain physical possession of residential real estate collateralizing a consumer mortgage loan via foreclosure on an in-substance repossession. During the year ended December 31, 2015, we did not foreclose on any consumer mortgages through in-substance repossession. At December 31, 2015, we held one foreclosed residential real estate totaling $0.1 million. At December 31, 2014, we held foreclosed residential real estate totaling $1.3 million. Included within net loans as of December 31, 2015 was a recorded investment of $15.2 million of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdiction.