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Other Real Estate Owned
 9 Months Ended
Sep. 30, 2017
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, 2017 and December 31, 2016:







 

 

 

 

(in thousands)

September 30, 2017

December 31, 2016

Commercial real estate

$

 4,045 

$

 3,779 

Acquisition and development

 

 4,717 

 

 5,944 

Commercial and industrial

 

 24 

 

 24 

Residential mortgage

 

 995 

 

 1,163 

                 Total OREO

$

 9,781 

$

 10,910 



The following table presents the activity in the OREO valuation allowance for the nine- and three-month periods ended September 30, 2017 and 2016:













 

 

 

 

 

 

 

 



For the Nine Months Ended

For the Three Months Ended



September 30,

September 30,

(in thousands)

2017

2016

2017

2016

Balance beginning of period

$

 3,535 

$

 4,430 

$

 3,232 

$

 3,599 

Fair value write-down

 

 551 

 

 366 

 

 458 

 

 269 

Sales of OREO

 

 (1,005)

 

 (1,205)

 

 (609)

 

 (277)

     Balance at end of period

$

 3,081 

$

 3,591 

$

 3,081 

$

 3,591 



The following table presents the components of OREO expenses, net, for the nine- and three-month periods ended September 30, 2017 and 2016:







 

 

 

 

 

 

 

 



For the Nine Months Ended

For the Three Months Ended



September 30,

September 30,

(in thousands)

2017

2016

2017

2016

Gains on real estate, net

$

 (589)

$

 (140)

$

 (515)

$

 (9)

Fair value write-down, net

 

 551 

 

 366 

 

 458 

 

 269 

Expenses, net

 

 492 

 

 495 

 

 213 

 

 152 

Rental and other income

 

 (149)

 

 (82)

 

 (63)

 

 (23)

    Total OREO expense, net

$

 305 

$

 639 

$

 93 

$

 389