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Real Estate and Other Assets Acquired in Settlement of Loans (Tables)

3 Months Ended

Mar. 31, 2013

Real Estate and Other Assets Acquired in Settlement of Loans [Abstract]

Summary of 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

Schedule of real estate acquired in settlement of loans


		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

Summary of activity in valuation allowance for other real estate owned in settlement of loans


		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