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Other Real Estate Owned
 9 Months Ended
Sep. 30, 2018
Other Real Estate Owned [Abstract]  
Other Real Estate Owned

Note 8 - Other Real Estate Owned



The following table presents the components of other real estate owned (“OREO”) at September 30, 2018 and December 31, 2017:







 

 

 

 

(in thousands)

September 30, 2018

December 31, 2017

Commercial real estate

$

 2,993 

$

 3,605 

Acquisition and development

 

 3,620 

 

 5,295 

Commercial and industrial

 

 24 

 

 24 

Residential mortgage

 

 845 

 

 1,217 

                 Total OREO

$

 7,482 

$

 10,141 



The following table presents the activity in the OREO valuation allowance for the nine- and three-month periods ended September 30, 2018 and 2017:













 

 

 

 

 

 

 

 



For the Nine months Ended

For the Three months Ended



September 30,

September 30,

(in thousands)

2018

2017

2018

2017

Balance beginning of period

$

 2,740 

$

 3,535 

$

 2,947 

$

 3,232 

Fair value write-down

 

 656 

 

 551 

 

 179 

 

 458 

Sales of OREO

 

 (651)

 

 (1,005)

 

 (381)

 

 (609)

     Balance at end of period

$

 2,745 

$

 3,081 

$

 2,745 

$

 3,081 



The following table presents the components of OREO expenses, net, for the nine- and three-month periods ended September 30, 2018 and 2017:







 

 

 

 

 

 

 

 



For the Nine months Ended

For the Three months Ended



September 30,

September 30,

(in thousands)

2018

2017

2018

2017

Gains on real estate, net

$

 (269)

$

 (589)

$

 (86)

$

 (515)

Fair value write-down, net

 

 656 

 

 551 

 

 179 

 

 458 

Expenses, net

 

 396 

 

 492 

 

 123 

 

 213 

Rental and other income

 

 (101)

 

 (149)

 

 (27)

 

 (63)

    Total OREO expense, net

$

 682 

$

 305 

$

 189 

$

 93