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Other Real Estate Owned
 9 Months Ended
Sep. 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 nine months ended September 30, 2016 and 2015 are presented below:

    2016     2015  
 
Balance at beginning of year $ 256   $ 523  
Additions ---     425  
Disposals   (20 )   (110 )
Writedowns   (47 )   (20 )
Balance at end of period $ 189   $ 818  

 

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

  September 30, 2016 September 30, 2015
  Number     Number    
  of   Carrying of   Carrying
  properties   value properties   value
 
Residential 1 $ 99 3 $ 143
Commercial 1   90 3   675
Total 2 $ 189 6 $ 818

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 nine months ended September 30, 2016 and 2015 as follows:

    September 30, 2016   September 30, 2015
    Three     Nine   Three   Nine
    Months     Months   Months   Months
    Ended     Ended   Ended   Ended
 
Net (losses) gains on OREO $ (6 ) $ (53 ) $ --- $ 44

 

At September 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 $2,852 compared with $4,575 at December 31, 2015.