XML 29 R18.htm IDEA: XBRL DOCUMENT v3.5.0.2
Other Real Estate Owned
 6 Months Ended
Jun. 30, 2016
Other Real Estate Owned [Abstract]  
Other Real Estate Owned

Note 9: Other Real Estate Owned

Other real estate owned ("OREO") is classified in Other Assets on the Company's balance sheet.

The Company's OREO activity for the six months ended June 30, 2016 and 2015 are presented below:

    2016     2015  
 
Balance at beginning of year $ 256   $ 523  
Additions -   -  
Disposals -     (110 )
Writedowns   (47 )   (20 )
Balance at end of period $ 209   $ 393  

 

 

The Company's OREO portfolio by property type is presented in the table below as of June 30, 2016 and December 31, 2015:

  2016 2015
  Number     Number    
  of   Carrying of   Carrying
  properties   value properties   value
 
Residential 2 $ 119 3 $ 143
Commercial 1   90 2   250
Total 3 $ 209 5 $ 393

The Company's net gains and losses on OREO properties are presented within non-interest expense on the consolidated statements of income.

The Company recorded net gains and losses on OREO properties for the three and six months ended June 30, 2016 and 2015 as follows:

    June 30, 2016     June 30, 2015
    Three     Six     Three   Six
    Months     Months     Months   Months
    Ended     Ended     Ended   Ended
 
Net (losses) gains on OREO $ (47 ) $ (47 ) $ 44 $ 44

 

At June 30, 2016, the Bank had consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdictions totaling $2,937 compared with $4,575 at December 31, 2015.