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Note 6 - Foreclosed Real Estate
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Real Estate Disclosure [Text Block]
(
6
)
FORECLOSED REAL ESTATE
 
Foreclosed real estate activity was as follows for the years ended
December 31, 2019,
2018
and
2017:
 
(In thousands)
   2019   2018   2017
             
Beginning balance   $
3,142
     $
3,971
     $
4,674
  
Transfers from loans to foreclosed real estate    
311
      
142
      
555
  
Direct write-downs    
(284
 )    
(419
 )    
(263
 )
Sales    
(3,002
 )    
(558
 )    
(1,023
 )
Capitalized expenses and other adjustments    
3
      
6
      
28
  
                         
Ending balance   $
170
     $
3,142
     $
3,971
  
 
Net loss on foreclosed real estate was as follows for the years ended
December 31, 2019,
2018
and
2017:
 
(In thousands)
   2019   2018   2017
             
Net (gain) loss on sales   $
(114
 )   $
23
     $
(3
 )
Direct write-downs    
284
      
419
      
263
  
Operating expenses, net of income    
129
      
34
      
56
  
                         
    $
299
     $
476
     $
316
  
 
At
December 31, 2019
and
2018,
the balance of foreclosed real estate includes
$170,000
and
$33,000,
respectively, of residential real estate properties where physical possession has been obtained. At
December 31, 2019
and
2018,
the recorded investment in consumer mortgage loans secured by residential real estate properties where formal foreclosure procedures are in process was
$319,000
and
$365,000,
respectively.