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Note 7 - Other Real Estate Owned | 12 Months Ended
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Dec. 31, 2019
Notes to Financial Statements |
Real Estate Owned [Text Block] | NOTE 7 . Other Real Estate Owned The following is a summary of the activity in other real estate owned during the years ended December 31, 2019 and 2018:
(dollars in thousands) |  | 2019 |  |  | 2018 |
Balance, Beginning of Year |  | $ | 1,841 |  |  | $ | 4,256 |
Loans transferred to other real estate |  |  | 1,009 |  |  |  | 792 |
Acquired in acquisitions |  |  | 243 |  |  |  | - |
Sales proceeds |  |  | (2,553) |  |  |  | (2,949) |
Transfer to premises and equipment |  |  | - |  |  |  | (300) |
Net gain/(loss) on sale and writedowns |  |  | 780 |  |  |  | 42 |
Ending balance |  | $ | 1,320 |  |  | $ | 1,841 |

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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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