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Note 6 - Other Real Estate Owned | 12 Months Ended
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Dec. 31, 2015
Disclosure Text Block [Abstract] |
Real Estate Owned [Text Block] | 6. Other Real Estate Owned At December 31, 2015, the net carrying value of other real estate owned (“OREO”) decreased $6.8 million, or 21.5%, to $24.7 million from $31.5 million at December 31, 2014. OREO located in Texas was $14.6 million and was comprised of three parcels of land zoned for commercial purpose of $12.3 million, one medical office building of $1.6 million, and a retail store of $761,000. OREO located in the state of New York were comprised of two residential properties of $5.7 million. OREO located in Illinois was $2.9 million and was comprised of two multi-family residential properties of $2.4 million, two office and commercial buildings of $320,000, and a residential property of $153,000. OREO located in California was $891,000 and was comprised primarily of one residential construction project of $414,000 and two parcels of land zoned for commercial purpose of $478,000. OREO located in the state of Washington was an office and commercial use building of $635,000. For 2014, OREO located in California was $4.1 million and was comprised primarily of one residential property of $2.0 million, four commercial use buildings of $1.2 million, one residential construction project of $526,000, one parcel of land zoned for residential purpose of $243,000, and one parcel of land zoned for commercial purpose of $235,000. OREO located in Texas was $15.7 million and was comprised of three parcels of land zoned for commercial purpose of $12.3 million, one medical office building of $1.6 million, a retail store of $761,000, a commercial building construction project of $752,000, and a shopping center of $304,000. OREO located in Illinois was $4.0 million and was comprised of two multi-family residential properties of $3.1 million and an office of $921,000. OREO located in the state of Washington was an office and commercial use building of $3.8 million. OREO located in the state of New York was $3.8 million and was comprised of one residential property of $2.7 million and a retail store of $1.1 million. An analysis of the activity in the valuation allowance for other real estate losses for the years ended December 31, 2015, 2014, and 2013 is as follows:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (In thousands) |
Balance, beginning of year |  | $ | 2,110 |  |  | $ | 13,384 |  |  | $ | 19,556 |
Provision/(Reversal) for losses |  |  | 547 |  |  |  | 1,619 |  |  |  | (2,122 | )
OREO disposal |  |  | (350 | ) |  |  | (12,893 | ) |  |  | (4,050 | )
Balance, end of year |  | $ | 2,307 |  |  | $ | 2,110 |  |  | $ | 13,384 |
The following table presents the components of other real estate owned expense for the years ended December 31, 2015, 2014, and 2013:
|  | Year Ended December 31, |
|  | 2015 |  |  | 2014 |  |  | 2013 |
|  | (In thousands) |
Operating expense |  | $ | 665 |  |  | $ | 1,142 |  |  | $ | 3,680 |
Provision/(reversal) for losses |  |  | 547 |  |  |  | 1,619 |  |  |  | (2,122 | )
Net gain on transfers and disposals |  |  | (2,012 | ) |  |  | (4,065 | ) |  |  | (1,793 | )
Total other real estate owned expense |  | $ | (800 | ) |  | $ | (1,304 | ) |  | $ | (235 | )

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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/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=56956306&loc=d3e18551-111553 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=56956306&loc=d3e18511-111553 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28367877&loc=d3e4437-111522 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.10(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 43 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1739-110224 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 11 -Article 9 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 + Details
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