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Other Real Estate Owned (OREO)
 6 Months Ended
Jun. 30, 2017
Real Estate [Abstract]  
Other Real Estate Owned (OREO)
Other Real Estate Owned (OREO)
Changes in the balance for OREO are as follows (in thousands):
 
Six Months Ended
 
Year Ended
 
June 30,
2017
 
December 31,
2016
Balance at the beginning of year, gross
$
250

 
$
2,903

Transfers in
—

 
287

Charge-offs
—

 
(251
)
Sales proceeds
—

 
(2,882
)
Gain on disposition
—

 
193

Balance at the end of period, gross
$
250

 
$
250

Less: valuation allowance
—

 
—

Balance at the end of period, net
$
250

 
$
250


There were no residential real estate properties included in the ending OREO balances above at June 30, 2017 and December 31, 2016. 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 June 30, 2017.
Changes in the valuation allowance are as follows (in thousands):
 
Six Months Ended
 
Year Ended
 
June 30,
2017
 
June 30,
2016
 
December 31,
2016
Balance at beginning of year
$
—

 
$
224

 
$
224

Provision for losses
—

 
27

 
27

Charge-offs, net
—

 
(70
)
 
(251
)
Balance at end of period
$
—

 
$
181

 
$
—



Net expenses applicable to OREO, other than the provision for losses, were $6 thousand and $43 thousand for the six months ended June 30, 2017 and 2016, respectively and $46 thousand for the year ended December 31, 2016.