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Note 7 - Other Real Estate Owned ("OREO")
 12 Months Ended
Dec. 31, 2018
Notes to Financial Statements  
Real Estate Owned [Text Block]
Note
7.
Other Real Estate Owned (“OREO”)
 
As of
December 
31,
 
2018
and
2017,
Patriot recorded OREO of
$2.9
million and
$0
on the Consolidated Balance Sheet, respectively. The
2018
OREO balance consists of
two
properties. One OREO of
$1.0
million was acquired from the acquisition of Prime Bank in
May 2018,
and the additional
$1.9
million represents the value of
one
loan receivable due from the mortgagor of a foreclosed residential property that is currently being market for sale. In
2017,
Patriot sold the OREO recorded in
2016
and recognized a loss of
$9,000.
No
OREO property was sold in
2018.