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OTHER REAL ESTATE OWNED | 3 Months Ended
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Mar. 31, 2017
Real Estate Owned, Disclosure of Detailed Components [Abstract] |
OTHER REAL ESTATE OWNED | OTHER REAL ESTATE OWNED The following table presents the activity in OREO for the periods indicated:
| Three Months Ended
| March 31,
| 2017 |  | 2016
| (In thousands)
Balance at beginning of period | $ | 2,502 |  |  | $ | 1,097 |
Additions | 1,171 |  |  | 147 |
Sales and net direct write-downs | (325 | ) |  | (919 | )
Net change in valuation allowance | (3 | ) |  | — |
Balance at end of period | $ | 3,345 |  |  | $ | 325 |
The following table presents the activity in the OREO valuation allowance for the periods indicated:
| Three Months Ended
| March 31,
| 2017 |  | 2016
| (In thousands)
Balance at beginning of period | $ | 6 |  |  | $ | 70 |
Additions | 9 |  |  | — |
Net direct write-downs and removals from sale | (6 | ) |  | — |
Balance at end of period | $ | 9 |  |  | $ | 70 |
The following table presents expenses related to foreclosed assets included in All Other Expenses in the Consolidated Statements of Operations for the periods indicated:
| Three Months Ended
| March 31,
| 2017 |  | 2016
| (In thousands)
Net gain (loss) on sales | $ | (5 | ) |  | $ | 37 |
Operating expenses, net of rental income | (4 | ) |  | — |
Total | $ | (9 | ) |  | $ | 37 |
The Company did not provide loans to finance the purchase of its OREO properties during the three months ended March 31, 2017 or 2016.

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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=68051746&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=68051746&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=65884687&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 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(c)(Schedule III)) -URI http://asc.fasb.org/extlink&oid=27047687&loc=d3e5864-122674 Reference 6: 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 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 8: 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 9: 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(8)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
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