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Note 8 - Other Real Estate Owned ("OREO")
9 Months Ended
Sep. 30, 2017
Notes to Financial Statements  
Real Estate Owned [Text Block]
NOTE
8
OTHER REAL ESTATE OWNED (“OREO”)
 
OREO comprises foreclosed assets acquired in settlement of loans and is carried at fair value less estima
ted cost to sell and is presented on the Consolidated Balance Sheet. At
September 30, 2017
and
December 31, 2016,
there was
$557,000
and
$934,000
of OREO, respectively. The recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements of the applicable jurisdiction totaled
$1.0
million at
September 30, 2017.