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Note 4 - Other Real Estate Owned
 9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Real Estate Owned [Text Block]
Note 4:
Other Real Estate Owned
 
At September 30, 2016, Other Real Estate Owned (“OREO”) consisted of a single property which consists of raw land that is zoned for multi-use construction. The following table presents a summary of OREO activity for the nine months ended September 30, 2016:
 
(in thousands)
 
OREO
 
         
Balance at December 31, 2015
   $ -  
Transfers from loans
     840  
Gain recognized in acquisition
     11  
Balance at September 30, 2016
   $ 851  
 
The recognized gain represents the amount by which fair market value of the property, net of estimated liquidation costs, exceeded the remaining loan balance as of the date possession was taken of the property.
 
As of and for the nine months ended September 30, 2015, there was no OREO activity.