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Note 7 - Other Real Estate Owned
 6 Months Ended
Jun. 30, 2016
Notes to Financial Statements  
Real Estate Owned [Text Block]
Note
7
.
Other Real Estate Owned
 
The activity within Other Real Estate Owned (“OREO”) for the six and three months ended June 30, 2016 and 2015 is presented in the table below. There were no residential real estate loans in the process of foreclosure as of June 30, 2016.  For the six and three months ended June 30, 2016, proceeds on sales of OREO were $3.1 million and $490 thousand, respectively. The net gain on sale was $563 thousand for the six months ended June 30, 2016. There was a loss of $10 thousand on the sale of one OREO property during the three months ended June 30, 2016 and a gain of $573 thousand resulting from the sale of one OREO property during the first quarter of 2016.
 
 
  
Six Months Ended
    
Three Months Ended
  
(dollars in thousands)
  
June 30, 2016
    
June 30, 2015
    
June 30, 2016
    
June 30, 2015
  
                                 
Balance beginning of period
   $ 5,852     $ 13,224     $ 3,846     $ 12,338  
Real estate acquired from borrowers
     -       1,500       -       1,500  
Valuation allowance
     (200 )     (750 )     (194 )     -  
Properties sold
     (2,500 )     (3,259 )     (500 )     (3,123 )
Balance end of period
   $ 3,152     $ 10,715     $ 3,152     $ 10,715