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Note 7 - Other Real Estate Owned | 6 Months Ended
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Jun. 30, 2019
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 |  |  | For the six months ended |
|  | June 30, |  |  | June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (In thousands) |
Balance at beginning of period |  | $ | - |  |  | $ | 638 |  |  | $ | - |  |  | $ | - |
Acquisitions |  |  | 239 |  |  |  | - |  |  |  | 239 |  |  |  | 638 |
Sales |  |  | - |  |  |  | (638 | ) |  |  | - |  |  |  | (638 | )
Balance at end of period |  | $ | 239 |  |  | $ | - |  |  | $ | 239 |  |  | $ | - |
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 |  |  | For the six months ended |
|  | June 30, |  |  | June 30, |
|  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018 |
|  | (In thousands) |
Gross gains |  | $ | - |  |  | $ | 27 |  |  | $ | - |  |  | $ | 27 |
Included within net loans as of June 30, 2019 and December 31, 2018 was a recorded investment of $7.1 million and $7.2 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.

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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4437-111522 + Details
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