Annual report pursuant to Section 13 and 15(d)

Note 5 - Foreclosed Properties

v3.8.0.1
Note 5 - Foreclosed Properties
 12 Months Ended
Dec. 31, 2017
Notes to Financial Statements  
Real Estate Disclosure [Text Block]
NOTE
5.
FORECLOSED PROPERTIES
 
Other real estate and certain other assets acquired in foreclosure are carried at the lower of the recorded investment in the loan or fair value less estimated costs to sell the property.
 
An analysis of foreclosed properties for the years ended
December 31, 2017,
2016
and
2015
follows:
 
    2017   2016   2015
    (In Thousands)
Balance at beginning of year   $
4,988
     $
5,392
     $
6,840
  
OREO acquired    
-
      
-
      
2,348
  
Transfers from loans and capitalized expenses    
4,685
      
4,112
      
2,210
  
Foreclosed properties sold    
(2,982
 )    
(3,931
 )    
(5,227
 )
Writedowns and partial liquidations    
10
      
(585
 )    
(779
 )
Balance at end of year   $
6,701
     $
4,988
     $
5,392