XML 80 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other Real Estate Owned
 3 Months Ended
Mar. 31, 2014
Other Real Estate Owned [Abstract]  
Other Real Estate Owned

Note 8 – Other Real Estate Owned

 

Other Real Estate Owned

 

The following table presents the components of OREO as of March 31, 2014 and December 31, 2013:

 

 

 

 

 

 

 

 

(in thousands)

March 31, 2014

December 31, 2013

Commercial real estate

$
4,960 

$
5,306 

Acquisition and development

 
9,008 

 
10,509 

Residential mortgage

 
1,645 

 
1,216 

                Total OREO

$
15,613 

$
17,031 

 

 

The following table presents the activity in the OREO valuation allowance for the three months ended March  31, 2014 and 2013:

 

 

 

 

 

 

 

 

For the three months ended

 

March 31,

(in thousands)

2014

2013

Balance January 1

$
4,047 

$
2,766 

Fair value write-down

 
371 

 
20 

Sales of OREO

 
(748)

 
(607)

    Balance at end of period

$
3,670 

$
2,179 

 

 

 

The following table presents the components of OREO expenses, net for the three months ended March 31, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended

 

March 31,

(in thousands)

2014

2013

Gains on real estate, net

$
(25)

$
(7)

Fair value write-down

 
371 

 
20 

Expenses, net

 
188 

 
117 

Rental and other income

 
(77)

 
(112)

   Total OREO expense, net

$
457 

$
18