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Foreclosed Assets | 12 Months Ended
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Dec. 31, 2017
Foreclosed Assets [Abstract] |
Foreclosed Assets | ﻿ NOTE 5 – FORECLOSED ASSETS Foreclosed assets at year-end were as follows:
﻿ |  |  |  |  |
﻿ | 2017 |  | 2016
﻿Commercial real estate | $ | - |  | $ | -
﻿Single-family residential |  | - |  |  | 204
﻿ Subtotal |  | - |  |  | 204
﻿Valuation Allowance |  | - |  |  | -
﻿ Total | $ | - |  | $ | 204
﻿ There was no activity in the valuation allowance account or any write-downs during the years ended December 31, 2017 and 2016. Expenses related to foreclosed assets include:
﻿ |  |  |  |  |
﻿ | 2017 |  | 2016
﻿Net loss (gain) on sales | $ | 7 |  | $ | (4)
﻿Operating expenses, net of rental income |  | 11 |  |  | 69
﻿ | $ | 18 |  | $ | 65
﻿ There were no f oreclosed assets at December 31, 201 7. Foreclosed assets at December 31, 2016 consisted of one single-family property that was transferred into REO at fair value at the time of transfer in December 2016. Foreclosed asset expense s incurred during 2017 was related to light rehabilitation incurred to ready the property to sell. Foreclosed asset expense incurred during 201 6 was related to light rehabilitation and maintenance expense incurred to ready the property to sell, increase occupancy levels, and certain other operating costs.

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