XML 21 R10.htm IDEA: XBRL DOCUMENT v3.7.0.1
Other Real Estate and Repossessed Assets
 6 Months Ended
Jun. 30, 2017
Other Real Estate [Abstract]  
Other Real Estate and Repossessed Assets
(3)Other Real Estate and Repossessed Assets

 

  June 30,  December 31, 
(in thousands) 2017  2016 
Commercial $761  $809 
Real estate construction - commercial  12,380   12,380 
Real estate mortgage - residential  463   647 
Real estate mortgage - commercial  2,909   3,439 
Repossessed assets  17   16 
Total $16,530  $17,291 
Less valuation allowance for other real estate owned  (3,174)  (3,129)
Total other real estate and repossessed assets $13,356  $14,162 

 

Changes in the net carrying amount of other real estate and repossessed assets were as follows for the periods indicated:

 

  Three Months Ended June 30,  Six Months Ended June 30, 
  2017  2016  2017  2016 
Balance at beginning of period $16,669  $18,696  $17,291  $19,225 
Additions  52   892   155   1,634 
Proceeds from sales  (126)  (1,125)  (784)  (2,399)
Charge-offs against the valuation allowance for other real estate owned, net  (53)  (55)  (170)  (101)
Net gain on sales  (12)  54   38   103 
Total other real estate and repossessed assets $16,530  $18,462  $16,530  $18,462 
Less valuation allowance for other real estate owned  (3,174)  (3,208)  (3,174)  (3,208)
Balance at end of period $13,356  $15,254  $13,356  $15,254 

 

At June 30, 2017 $100,000 of consumer mortgage loans secured by residential real estate properties were in the process of foreclosure compared to $162,000 at December 31, 2016.

 

Activity in the valuation allowance for other real estate owned was as follows for the periods indicated:

 

  Three Months Ended June 30,  Six Months Ended June 30, 
(in thousands) 2017  2016  2017  2016 
Balance, beginning of period $3,044  $3,225  $3,129  $3,233 
Provision for other real estate owned  183   38   215   76 
Charge-offs  (53)  (55)  (170)  (101)
Balance, end of period $3,174  $3,208  $3,174  $3,208