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Note 6 - Foreclosed Real Estate | 12 Months Ended
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Dec. 31, 2020
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, 2020, 2019 and 2018:
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Beginning balance |  | $ | 170 |  |  | $ | 3,142 |  |  | $ | 3,971 |
Transfers from loans to foreclosed real estate |  |  | 67 |  |  |  | 311 |  |  |  | 142 |
Direct write-downs |  |  | - |  |  |  | (284 | ) |  |  | (419 | )
Sales |  |  | (237 | ) |  |  | (3,002 | ) |  |  | (558 | )
Capitalized expenses and other adjustments |  |  | - |  |  |  | 3 |  |  |  | 6 |
Ending balance |  | $ | - |  |  | $ | 170 |  |  | $ | 3,142 |
Net loss on foreclosed real estate was as follows for the years ended December 31, 2020, 2019 and 2018:
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2018 |
Net (gain) loss on sales |  | $ | 4 |  |  | $ | (114 | ) |  | $ | 23 |
Direct write-downs |  |  | - |  |  |  | 284 |  |  |  | 419 |
Operating expenses, net of income |  |  | 9 |  |  |  | 129 |  |  |  | 34 |
|  | $ | 13 |  |  | $ | 299 |  |  | $ | 476 |
At December 31, 2020, foreclosed real estate did not include any residential real estate properties where physical possession has been obtained. At December 31, 2019, the balance of foreclosed real estate includes $170,000 of residential real estate properties where physical possession has been obtained. At December 31, 2020 and 2019, the recorded investment in consumer mortgage loans secured by residential real estate properties where formal foreclosure procedures are in process was $109,000 and $319,000, respectively.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -URI http://asc.fasb.org/topic&trid=2156125 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 978 -URI http://asc.fasb.org/topic&trid=2134977 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 976 -URI http://asc.fasb.org/topic&trid=2134846 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 974 -URI http://asc.fasb.org/topic&trid=2156429 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 972 -URI http://asc.fasb.org/topic&trid=2134617 + Details
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