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Note 8 - Other Real Estate Owned
 12 Months Ended
Dec. 31, 2015
Disclosure Text Block [Abstract]  
Real Estate Owned [Text Block]

Note 8 – Other Real Estate Owned


The activity within OREO for the twelve months ended December 31, 2015 and 2014 is presented in the table below. There were no residential real estate loans in the process of foreclosure as of December 31, 2015.  For the year ended December 31, 2015 and 2014, proceeds on sales of OREO were $5.5 million and $520 thousand, respectively. For the year ended December 31, 2015 and 2014, the net losses on sales were $328 thousand and $154 thousand, respectively.


   

Year Ended December 31,

  

(dollars in thousands)

  

2015

    

2014

  
                 

Balance beginning of period

   $ 13,224     $ 9,225  

Real estate acquired from borrowers

     1,725       5,310  

Valuation allowance

     (1,100 )     (554 )

Properties sold

     (7,997 )     (757 )

Balance end of period

   $ 5,852     $ 13,224