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Other Real Estate Owned (Tables)
 6 Months Ended
Jun. 30, 2014
Other Real Estate Owned [Abstract]  
Schedule of Real Estate Properties

The following table presents the components of OREO as of June 30, 2014 and December 31, 2013:

 

 

 

 

 

 

(in thousands)

June 30, 2014

December 31, 2013

Commercial real estate

$
2,422 

$
5,306 

Acquisition and development

 
8,690 

 
10,509 

Residential mortgage

 
1,176 

 
1,216 

                Total OREO

$
12,288 

$
17,031 

 

Other Real Estate, Roll Forward

The following table presents the activity in the OREO valuation allowance for the six- and three- months ended June 30, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended

For the Three Months Ended

 

June 30,

June 30,

(in thousands)

2014

2013

2014

2013

Balance January 1

$
4,047 

$
2,766 

$
3,670 

$
2,179 

Fair value write-down

 
443 

 
37 

 
72 

 
17 

Sales of OREO

 
(748)

 
(815)

 
0 

 
(208)

    Balance at end of period

$
3,742 

$
1,988 

$
3,742 

$
1,988 

 

Schedule of Components of Other Real Estate Owned Expense

The following table presents the components of OREO expenses, net for the six- and three- months ended June 30, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Six Months Ended

For the Three Months Ended

 

June 30,

June 30,

(in thousands)

2014

2013

2014

2013

Losses/(gains) on real estate, net

$
970 

$
(62)

$
995 

$
(55)

Fair value write-down, net

 
443 

 
37 

 
72 

 
17 

Expenses, net

 
357 

 
223 

 
169 

 
106 

Rental and other income

 
(156)

 
(246)

 
(79)

 
(134)

   Total OREO expense/(income), net

$
1,614 

$
(48)

$
1,157 

$
(66)