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Real Estate and Other Assets Acquired in Settlement of Loans
 3 Months Ended
Mar. 31, 2013
Real Estate and Other Assets Acquired in Settlement of Loans [Abstract]  
Real Estate and Other Assets Acquired in Settlement of Loans
(3) Real Estate and Other Assets Acquired in Settlement of Loans

 

                 

(in thousands)

   March 31,
2013		     December 31,
2012		  

Commercial

   $ 312     $ 329  

Real estate construction – residential

     170       112  

Real estate construction – commercial

     13,400       13,392  

Real estate mortgage – residential

     1,353       1,227  

Real estate mortgage – commercial

     15,771       14,201  

Foreclosed assets

     466       468  
   

 

 

    

 

 

  

Total

   $ 31,472     $ 29,729  

Less valuation allowance for other real estate owned

     (8,344 )      (6,137 ) 
   

 

 

    

 

 

  

Total other real estate owned and foreclosed assets

   $ 23,128     $ 23,592  
   

 

 

    

 

 

  

Changes in the net carrying amount of other real estate owned and foreclosed assets for the three months ended March 31, 2013 and 2012 were as follows:

 

                 
    Three Months Ended
March 31,		  
    2013     2012  

Balance at beginning of period

   $ 29,729     $ 22,997  
   

 

 

    

 

 

  

Additions

     2,470       5,598  

Proceeds from sales

     (604 )      (1,195 ) 

Charge-offs against the valuation allowance for other real estate owned, net

     (136 )      (41 ) 

Net gain on sales

     13       8  
   

 

 

    

 

 

  

Total other real estate owned and repossessed assets

   $ 31,472     $ 27,367  

Less valuation allowance for other real estate owned

     (8,344 )      (7,190 ) 
   

 

 

    

 

 

  

Balance at end of period

   $ 23,128     $ 20,177  
   

 

 

    

 

 

  

Activity in the valuation allowance for other real estate owned in settlement of loans for the three months ended March 31, 2013 and 2012, respectively, is summarized as follows:

 

                 
    Three Months
Ended March 31,		  

(in thousands)

   2013     2012  

Balance, beginning of year

   $ 6,137     $ 6,977  

Provision for other real estate owned

     2,343       254  

Charge-offs

     (136 )      (41 ) 
   

 

 

    

 

 

  

Balance, end of year

   $ 8,344     $ 7,190  
   

 

 

    

 

 

  

The significant change in the expense provision from the three months ended March 31, 2012 to the three months ended March 31, 2013, primarily related to foreclosed commercial real estate property consisting of two hotels in the Branson area due to continued deterioration of value. These amounts are reflected in other real estate expense in the consolidated statements of operations.