XML 27 R11.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other Real Estate Owned
 9 Months Ended
Sep. 30, 2013
Other Real Estate Owned [Abstract]  
Other Real Estate Owned
Note 6 – Other Real Estate Owned

Activity for other real estate owned was as follows:

   
Three Months Ended
  
Nine Months Ended
 
   
September 30
  
September 30
 
(in thousands)
 
2013
  
2012
  
2013
  
2012
 
Beginning balance of other real estate owned
 $43,632  $56,435  $47,537  $56,965 
New assets acquired
  1,525   3,045   6,180   10,540 
Capitalized costs
  0   359   6   527 
Write-downs
  (182)  (540)  (1,958)  (899)
Sale of assets
  (1,897)  (3,196)  (8,687)  (11,030)
Ending balance of other real estate owned
 $43,078  $56,103  $43,078  $56,103 
 
Foreclosed properties at September 30, 2013 and 2012 were $42.5 million and $55.6 million, respectively.  Also included in other real estate owned are three properties totaling $0.6 million which were not acquired through foreclosure.  Carrying costs and fair value adjustments associated with foreclosed properties for the three months ended September 30, 2013 and 2012, respectively, were $0.9 million and $1.1 million.  Carrying costs and fair value adjustments associated with foreclosed properties for the nine months ended September 30, 2013 and 2012 were $3.9 million and $2.7 million.