XML 25 R13.htm IDEA: XBRL DOCUMENT v3.7.0.1
Other Real Estate Owned
 3 Months Ended
Mar. 31, 2017
Other Real Estate Owned  
Other Real Estate Owned

Note 6 – Other Real Estate Owned

 

Details related to the activity in the other real estate owned (“OREO”) portfolio, net of valuation reserve, for the periods presented are itemized in the following table:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

    

March 31, 

  

Other real estate owned

    

2017

    

2016

 

Balance at beginning of period

 

$

11,916

 

$

19,141

 

Property additions

 

 

3,416

 

 

382

 

Property improvements

 

 

 -

 

 

12

 

Less:

 

 

 

 

 

 

 

Proceeds from property disposals, net of gains/losses

 

 

1,533

 

 

1,339

 

Period valuation adjustments

 

 

318

 

 

451

 

Balance at end of period

 

$

13,481

 

$

17,745

 

 

Activity in the valuation allowance was as follows:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

  

 

    

March 31, 

  

 

    

2017

    

2016

  

Balance at beginning of period

 

$

9,982

 

$

14,127

 

Provision for unrealized losses

 

 

318

 

 

451

 

Reductions taken on sales

 

 

(641)

 

 

(179)

 

Balance at end of period

 

$

9,659

 

$

14,399

 

 

Expenses related to OREO, net of lease revenue includes:

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

    

March 31, 

 

 

    

2017

    

2016

 

Gain on sales, net

 

$

(74)

 

$

(42)

 

Provision for unrealized losses

 

 

318

 

 

451

 

Operating expenses

 

 

523

 

 

436

 

Less:

 

 

 

 

 

 

 

Lease revenue

 

 

58

 

 

107

 

Net OREO expense

 

$

709

 

$

738