XML 23 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
Other Real Estate Owned (Notes)
 9 Months Ended
Sep. 30, 2018
Other Real Estate [Abstract]  
Real Estate Owned [Text Block]
Real estate that is acquired through foreclosure or a deed in lieu of foreclosure is classified as other real estate owned ("OREO") until it is sold. When real estate is acquired through foreclosure or by deed in lieu of foreclosure, it is recorded at its fair value, less the estimated costs of disposal. If the fair value of the property is less than the loan balance, the difference is charged against the allowance for loan losses.
 
September 30, 2018
 
December 31, 2017
 
Balance
 
Valuation Allowance
 
Net OREO Balance
 
Balance
 
Valuation Allowance
 
Net OREO Balance
One–to–four family residential
$
634

 
$
—

 
$
634

 
$
836

 
$
(9
)
 
$
827

Multi-family mortgage
276

 
—

 
276

 
—

 
—

 
—

Nonresidential real estate
74

 
—

 
74

 
1,772

 
(252
)
 
1,520

Land
24

 
(23
)
 
1

 
48

 
(44
)
 
4

 
$
1,008

 
$
(23
)
 
$
985

 
$
2,656

 
$
(305
)
 
$
2,351


The following represents the roll forward of OREO and the composition of OREO properties:
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Beginning balance
$
1,187

 
$
4,896

 
$
2,351

 
$
3,895

New foreclosed properties
403

 
105

 
1,241

 
2,041

Valuation adjustments
(1
)
 
(227
)
 
(27
)
 
(301
)
Sales and payments
(604
)
 
(1,205
)
 
(2,580
)
 
(2,066
)
Ending balance
$
985

 
$
3,569

 
$
985

 
$
3,569


Activity in the valuation allowance is as follows:
 
For the Three Months Ended September 30,
 
For the Nine Months Ended September 30,
 
2018
 
2017
 
2018
 
2017
Beginning balance
$
44

 
$
308

 
$
305

 
$
449

Additions charged to expense
1

 
227

 
27

 
301

Reductions from sales of OREO
(22
)
 
(63
)
 
(309
)
 
(278
)
Ending balance
$
23

 
$
472

 
$
23

 
$
472

At September 30, 2018, the balance of OREO included no foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property without title. At December 31, 2017 the balance of OREO included $352,000 of foreclosed residential real estate properties recorded as a result of obtaining physical possession of the property without title. At September 30, 2018 and December 31, 2017, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process was $603,000 and $1.5 million, respectively.