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Foreclosed Assets Held For Sale
3 Months Ended
Mar. 31, 2012
Foreclosed Assets Held For Sale [Abstract]  
Foreclosed Assets Held For Sale

NOTE 9: FORECLOSED ASSETS HELD FOR SALE

 

Major classifications of foreclosed assets were as follows:

 

March 31,

 

December 31,

 

2012

 

2011

 

(In Thousands)

One-to four-family construction

$1,306

 

$1,630

Subdivision construction

15,140

 

15,573

Land development

13,722

 

13,634

Commercial construction

2,747

 

2,747

One-to four-family residential

1,518

 

1,849

Other residential

7,853

 

7,853

Commercial real estate

2,161

 

2,290

Commercial business

116

 

85

Consumer

899

 

1,211

 

45,462

 

46,872

FDIC-supported foreclosed assets, net of discounts

23,782

 

20,749

 

$69,244

 

$67,621

 

Expenses applicable to foreclosed assets included the following:

 

Three Months Ended March 31,

 

2012

 

2011

 

(In Thousands)

Net gain on sales of foreclosed assets

$(531)

 

$(317)

Valuation write-downs

269

 

--

Operating expenses, net of rental income

701

 

746

 

 

 

 

 

$439

 

$429