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Note 7 - Other Real Estate Owned
 3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Real Estate Owned [Text Block]
7.
Other Real Estate Owned
OREO are included in other assets on the Company’s Consolidated Statements of Financial Condition. The following table shows changes in OREO during the periods indicated:
 
    For the three months ended
March 31,
    2017   2016
    (In thousands)
         
Balance at beginning of period   $
533
     $
4,932
  
Acquisitions    
-
      
533
  
Write-down of carrying value    
-
      
(47
 )
Sales    
(533
 )    
(816
 )
                 
Balance at end of period   $
-
     $
4,602
  
 
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,
    2017   2016
    (In thousands)
         
Gross gains   $
50
     $
37
  
                 
Total net gain   $
50
     $
37
  
 
We
may
obtain physical possession of residential real estate collateralizing a consumer mortgage loan via foreclosure or an in-substance repossession. During the
three
months ended
March
31,
2017,
we did not foreclose on any consumer mortgages through in-substance repossession. We did
not
hold any foreclosed residential real estate properties at
March
31,
2017.
At
December
31,
2016,
we held
one
foreclosed residential real estate property for
$0.5
million. Included within net loans as of
March
31,
2017
was a recorded investment of
$11.5
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.