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Note 9: Foreclosed Assets Held For Sale
3 Months Ended
Mar. 31, 2013
Notes  
Note 9: Foreclosed Assets Held For Sale

NOTE 9: FORECLOSED ASSETS HELD FOR SALE

 

Major classifications of foreclosed assets were as follows:

 

 

 

March 31,

 

December 31,

 

2013

 

2012

(In Thousands)

 

 

 

One-to four-family construction

$324

 

$627

Subdivision construction

15,723

 

17,147

Land development

15,432

 

14,058

Commercial construction

3,765

 

6,511

One-to four-family residential

1,418

 

1,200

Other residential

7,232

 

7,232

Commercial real estate

3,168

 

2,738

Commercial business

126

 

160

Consumer

625

 

471

 

47,813

 

50,144

FDIC-supported foreclosed assets, net of discounts

17,445

 

18,730

 

$65,258

 

$68,874

 

 

Expenses applicable to foreclosed assets included the following:

 

 

 

 

Three Months Ended March 31,

 

2013

 

2012

(In Thousands)

 

 

 

Net gain on sales of foreclosed assets

$(27)

 

$(531)

Valuation write-downs

442

 

269

Operating expenses, net of rental income

640

 

701

 

 

 

 

 

$1,055

 

$439