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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2016
Banking and Thrift [Abstract]  
Other Real Estate Owned

Note 5. Other Real Estate Owned

Changes in the balance for OREO are as follows (in thousands):

 

     2016      2015  

Balance at the beginning of year, gross

    $ 2,903      $ 2,263  

Transfers in

      287        1,664  

Charge-offs

      (251 )       (381 ) 

Sales proceeds

      (2,882 )       (717 ) 

Gain on disposition

      193        74  
  

 

 

     

 

 

  

Balance at the end of year, gross

    $ 250      $ 2,903  

Less: valuation allowance

      —          (224 ) 
  

 

 

     

 

 

  

Balance at the end of year, net

    $ 250      $ 2,679  
  

 

 

     

 

 

  

 

There were no residential real estate properties included in the ending OREO balances above at December 31, 2016. The carrying amounts of residential real estate properties included in the ending OREO balances above totaled $627 thousand at December 31, 2015. The Bank did not have any consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process as of December 31, 2016.

Changes in the allowance for OREO losses are as follows (in thousands):

 

     2016      2015  

Balance at beginning of year

    $ 224      $ 375  

Provision for losses

      27        230  

Charge-offs, net

      (251 )       (381 ) 
  

 

 

     

 

 

  

Balance at end of year

    $ —        $ 224  
  

 

 

     

 

 

  

Net expenses applicable to OREO, other than the provision for losses, were $46 thousand and $196 thousand for the years ended December 31, 2016 and 2015, respectively.