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Note 6 - Other Real Estate Owned | 6 Months Ended
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Jun. 30, 2019
Notes to Financial Statements |
Real Estate Owned [Text Block] | ( 6 ) Other Real Estate Owned The aggregate carrying amount of Other Real Estate Owned (“OREO”) at June 30, 2019 and December 31, 2018 was $987 and $1,841, respectively. All of the Company’s other real estate owned represents properties acquired through foreclosure or deed in lieu of foreclosure. The following table details the change in OREO for the six months ended June 30, 2019 and the year ended December 31, 2018.
|  | Six Months Ended |  |  | Twelve Months Ended |
|  | June 30, 2019 |  |  | December 31, 2018 |
Balance, Beginning |  | $ | 1,841 |  |  | $ | 4,256 |
Additions |  |  | 166 |  |  |  | 793 |
Acquired in Acquisition |  |  | 243 |  |  |  | - |
Sales of OREO |  |  | (2,114 | ) |  |  | (2,949 | )
Transfer to Bank Premises |  |  | - |  |  |  | (300 | )
Gains (Losses) on Sale |  |  | 955 |  |  |  | 303 |
Provision for Losses |  |  | (104 | ) |  |  | (262 | )
Balance, Ending |  | $ | 987 |  |  | $ | 1,841 |
At June 30, 2019, the Company held $120 thousand of residential real estate property as foreclosed property compared to $565 thousand as of December 31, 2018. Also at June 30, 2019, $1,076 thousand of consumer mortgage loans collateralized by residential real estate property were in the process of foreclosure according to local requirements of the applicable jurisdictions. At December 31, 2018, only $25 thousand of consumer mortgage loans collateralized by residential real estate property were in the process of foreclosure according to local requirements of the applicable jurisdictions.

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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=118952595&loc=d3e4437-111522 + Details
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