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

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

 

 

 

 

 

 

(in thousands)

September 30, 2014

December 31, 2013

Commercial real estate

$
1,897 

$
5,306 

Acquisition and development

 
8,715 

 
10,509 

Residential mortgage

 
976 

 
1,216 

                Total OREO

$
11,588 

$
17,031 

 

Other Real Estate, Roll Forward

The following table presents the activity in the OREO valuation allowance for the nine- and three-month periods ended September 30, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended

For the Three Months Ended

 

September 30,

September 30,

(in thousands)

2014

2013

2014

2013

Balance January 1

$
4,047 

$
2,766 

$
3,742 

$
1,988 

Fair value write-down

 
885 

 
2,889 

 
442 

 
2,852 

Sales of OREO

 
(1,155)

 
(1,016)

 
(407)

 
(201)

    Balance at end of period

$
3,777 

$
4,639 

$
3,777 

$
4,639 

 

Schedule of Components of Other Real Estate Owned Expense

The following table presents the components of OREO expenses, net for the nine- and three-month periods ended September 30, 2014 and 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the Nine Months Ended

For the Three Months Ended

 

September 30,

September 30,

(in thousands)

2014

2013

2014

2013

Losses/(gains) on real estate, net

$
921 

$
(80)

$
(49)

$
(18)

Fair value write-down, net

 
885 

 
2,889 

 
442 

 
2,852 

Expenses, net

 
594 

 
495 

 
237 

 
272 

Rental and other income

 
(272)

 
(538)

 
(116)

 
(292)

   Total OREO expense, net

$
2,128 

$
2,766 

$
514 

$
2,814