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Note 7 - Other Real Estate Owned
 3 Months Ended
Mar. 31, 2016
Notes to Financial Statements  
Real Estate Owned [Text Block]
7.    Other Real Estate Owned
 
The following are changes in OREO during the periods indicated:
 
    For the three months ended
March 31,
    2016   2015
    (In thousands)
         
Balance at beginning of period   $ 4,932     $ 6,326  
Acquisitions     533       483  
Write-down of carrying value     (47 )     -  
Sales     (816 )     (1,557 )
                 
Balance at end of period   $ 4,602     $ 5,252  
 
The following table shows the gross gains, gross losses and write-downs of OREO reported in the Consolidated Statements of Income during the periods indicated:
 
    For the three months ended
March 31,
    2016   2015
    (In thousands)
         
Gross gains   $ 37     $ 216  
Gross losses     -       (6 )
                 
Total net gain   $ 37     $ 210  
 
We may obtain physical possession of residential real estate collateralizing a consumer mortgage loan via foreclosure on an in-substance repossession. During the three months ended March 31, 2016, we did not foreclose on any consumer mortgages through in-substance repossession. OREO are included in other assets on the Company’s balance sheet. At March 31, 2016, we held two foreclosed residential real estate properties totaling $0.6 million and at December 31, 2015, we held one foreclosed residential real estate property for $0.l million. Included within net loans as of March 31, 2016 and December 31, 2015 was a recorded investment of $13.5 million and $15.2 million, respectively, 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.