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Foreclosed Assets Held for Sale
3 Months Ended
Jun. 30, 2011
Foreclosed Assets Held for Sale [Abstract]  
Real Estate Owned [Text Block]

NOTE 10: FORECLOSED ASSETS HELD FOR SALE

 

Major classifications of foreclosed assets were as follows:

 

June 30,

 

December 31,

 

2011

 

2010

 

(In Thousands)

One-to four-family construction

    $                   1,303

 

    $                   2,510

Subdivision construction

                       19,969

 

                       19,816

Land development

                       18,148

 

                       10,620

Commercial construction

                         2,747

 

                         3,997

One-to four-family residential

                         3,239

 

                         2,896

Other residential

                         4,978

 

                         4,178

Commercial real estate

                         6,093

 

                         4,565

Commercial business

                              32

 

                                

Consumer

                         1,720

 

                            318

 

                       58,229

 

                       48,900

FDIC-supported foreclosed assets, net of discounts

                       12,348

 

                       11,362

 

    $                 70,577

 

    $                 60,262

 

Expenses applicable to foreclosed assets included the following:

 

Three Months Ended June 30,

 

2011

 

2010

 

(In Thousands)

Net (gain) loss on sales of real estate

    $                        34

 

    $                   (350)

Operating expenses, net of rental income

                            593

 

                           766 

 

 

 

 

 

    $                      627

 

    $                     416 

 

 

Six Months Ended June 30,

 

2011

 

2010

 

(In Thousands)

Net (gain) loss on sales of real estate

    $                   (283)

 

    $                      894

Operating expenses, net of rental income

                        1,339 

 

                         1,689

 

 

 

 

 

    $                  1,056 

 

    $                   2,583