| NOTE 7. |
OTHER REAL ESTATE OWNED |
A summary of OREO, which is included in other assets in the consolidated balance sheets, for the periods indicated is as follows:
| |
|
Years Ended December 31, |
|
| (in thousands) |
|
2016 |
|
|
2015 |
|
| Balance at beginning of period |
|
$ |
367 |
|
|
$ |
1,966 |
|
| Transfer of loans at net realizable value to OREO |
|
|
237 |
|
|
|
986 |
|
| Sale proceeds |
|
|
(1,999 |
) |
|
|
(3,632 |
) |
| Net gain from sale of OREO |
|
|
666 |
|
|
|
1,471 |
|
| Write-down of OREO |
|
|
- |
|
|
|
(424 |
) |
| Acquired balance, net |
|
|
2,788 |
|
|
|
- |
|
| Balance at end of period |
|
$ |
2,059 |
|
|
$ |
367 |
|
|