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Note 9: Foreclosed Assets Held For Sale
 3 Months Ended
Jun. 30, 2013
Notes  
Note 9: Foreclosed Assets Held For Sale

NOTE 9: FORECLOSED ASSETS HELD FOR SALE

 

Major classifications of foreclosed assets were as follows:

 

 

 

June 30,

 

December 31,

 

2013

 

2012

(In Thousands)

 

 

 

One-to four-family construction

$324

 

$627

Subdivision construction

13,877

 

17,147

Land development

14,903

 

14,058

Commercial construction

3,666

 

6,511

One-to four-family residential

1,390

 

1,200

Other residential

7,116

 

7,232

Commercial real estate

3,850

 

2,738

Commercial business

112

 

160

Consumer

940

 

471

 

46,178

 

50,144

FDIC-supported foreclosed assets, net of discounts

14,915

 

18,730

 

$61,093

 

$68,874

 

Expenses applicable to foreclosed assets included the following:

 

 

 

Three Months Ended June 30,

 

2013

 

2012

(In Thousands)

 

 

 

Net gain on sales of foreclosed assets

$(281)

 

$(866)

Valuation write-downs

614

 

1,131

Operating expenses, net of rental income

1,022

 

963

 

 

 

 

 

$1,355

 

$1,228

 

 

Six Months Ended June 30,

 

2013

 

2012

(In Thousands)

 

 

 

Net gain on sales of foreclosed assets

$(282)

 

$(1,397)

Valuation write-downs

1,056

 

1,400

Operating expenses, net of rental income

1,636

 

1,665

 

 

 

 

 

$2,410

 

$1,668