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

6 Months Ended

Jun. 30, 2013

Real Estate and Other Assets Acquired in Settlement of Loans

Summary of real estate and other assets acquired in settlement of loans

		June 30,			December 31,
(in thousands)		2013			2012
Commercial		$	0		$	329
Real estate construction - residential		170			112
Real estate construction - commercial		10,057			13,392
Real estate mortgage - residential		1,359			1,227
Real estate mortgage - commercial		10,165			14,201
Foreclosed assets		226			468
Total		$	21,977		$	29,729
Less valuation allowance for other real estate owned		(3,999		)	(6,137		)
Total other real estate owned and foreclosed assets		$	17,978		$	23,592

Schedule of real estate acquired in settlement of loans

		Three Months Ended June 30,						Six Months Ended June 30,
		2013			2012			2013			2012
Balance at beginning of period		$	31,472		$	27,367		$	29,729		$	22,997
Additions		500			3,713			2,970			9,311
Proceeds from sales		(5,629		)	(1,888		)	(6,233		)	(3,084		)
Charge-offs against the valuation allowance for other real estate owned, net		(4,187		)	(202		)	(4,323		)	(242		)
Foreclosed assets impairment write-down		(200		)	0			(200		)	0
Net gain on sales		21			67			34			75
Total other real estate owned and repossessed assets		$	21,977		$	29,057		$	21,977		$	29,057
Less valuation allowance for other real estate owned		(3,999		)	(7,474		)	(3,999		)	(7,474		)
Balance at end of period		$	17,978		$	21,583		$	17,978		$	21,583

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

		Three Months Ended June 30,						Six Months Ended June 30,
(in thousands)		2013			2012			2013			2012
Balance, beginning of year		$	8,344		$	7,190		$	6,137		$	6,977
Provision for other real estate owned		(158		)	486			2,185			739
Charge-offs		(4,187		)	(202		)	(4,323		)	(242		)
Balance, end of year		$	3,999		$	7,474		$	3,999		$	7,474