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Other Real Estate Owned
 9 Months Ended
Sep. 30, 2016
Other Real Estate Owned [Abstract]  
Other Real Estate Owned

Note 8 - Other Real Estate Owned



The following table presents the components of OREO at September 30, 2016 and December 31, 2015:







 

 

 

 

(in thousands)

September 30, 2016

December 31, 2015

Commercial real estate

$

 3,332 

$

 1,520 

Acquisition and development

 

 6,128 

 

 4,167 

Residential mortgage

 

 799 

 

 1,196 

                 Total OREO

$

 10,259 

$

 6,883 



The following table presents the activity in the OREO valuation allowance for the nine- and three-month periods ended September 30, 2016 and 2015:













 

 

 

 

 

 

 

 



For the Nine Months Ended

For the Three Months Ended



September 30,

September 30,

(in thousands)

2016

2015

2016

2015

Balance beginning of period

$

 4,430 

$

 3,440 

$

 3,599 

$

 3,843 

Fair value write-down

 

 366 

 

 1,202 

 

 269 

 

 350 

Sales of OREO

 

 (1,205)

 

 (831)

 

 (277)

 

 (382)

     Balance at end of period

$

 3,591 

$

 3,811 

$

 3,591 

$

 3,811 



The following table presents the components of OREO expenses, net, for the nine- and three-month periods ended September 30, 2016 and 2015:







 

 

 

 

 

 

 

 



For the Nine Months Ended

For the Three Months Ended



September 30,

September 30,

(in thousands)

2016

2015

2016

2015

Gains on real estate, net

$

 (140)

$

 (718)

$

 (9)

$

 (640)

Fair value write-down, net

 

 366 

 

 1,202 

 

 269 

 

 350 

Expenses, net

 

 495 

 

 704 

 

 152 

 

 248 

Rental and other income

 

 (82)

 

 (212)

 

 (23)

 

 (29)

    Total OREO expense, net

$

 639 

$

 976 

$

 389 

$

 (71)