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Note 5 - Other Real Estate Owned
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
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,
    2017   2016   2015
    (In thousands)
             
Balance at beginning of year   $
533
     $
4,932
     $
6,326
  
Acquisitions    
-
      
639
      
1,667
  
Reductions to carrying value    
-
      
(1,763
 )    
(896
 )
Sales    
(533
 )    
(3,275
 )    
(2,165
 )
                         
Balance at end of year   $
-
     $
533
     $
4,932
  
 
OREO balances are 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 expenses” during the periods presented:
 
    For the years ended December 31,
    2017   2016   2015
    (In thousands)
             
Gross gains   $
50
     $
37
     $
306
  
Gross losses    
-
      
(275
 )    
(6
 )
Write-down of carrying value    
-
      
(1,763
 )    
(896
 )
                         
Total Income (Expense)   $
50
     $
(2,001
 )   $
(596
 )
 
We
may
obtain physical possession of residential real estate collateralizing a consumer mortgage loan via foreclosure through an in-substance repossession. During the year ended
December 31, 2017,
we did
not
foreclose on any consumer mortgages through in-substance repossession. We did
not
hold any foreclosed residential real estate at
December 31, 2017
and held
$0.5
million at
December 31, 2016.
Included within net loans as of
December 31, 2017
and
2016,
was a recorded investment of
$10.5
million and
$11.4
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.