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Real Estate and Other Assets Acquired in Settlement of Loans | 9 Months Ended
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Sep. 30, 2013
Real Estate and Other Assets Acquired in Settlement of Loans |
Real Estate and Other Assets Acquired in Settlement of Loans | (3) Real Estate and Other Assets Acquired in Settlement of Loans
|  | September 30, |  | December 31, |
(in thousands) |  | 2013 |  | 2012 |
Commercial |  | $ | 0 |  | $ | 329 |
Real estate construction - residential |  | 126 |  | 112 |
Real estate construction - commercial |  | 10,028 |  | 13,392 |
Real estate mortgage - residential |  | 908 |  | 1,227 |
Real estate mortgage - commercial |  | 9,354 |  | 14,201 |
Repossessed assets |  | 204 |  | 468 |
Total |  | $ | 20,620 |  | $ | 29,729 |
Less valuation allowance for other real estate owned |  | (4,752 | ) | (6,137 | )
Total other real estate owned and foreclosed assets |  | $ | 15,868 |  | $ | 23,592 |
Changes in the net carrying amount of other real estate owned and repossessed assets for the three and nine months ended September 30, 2013 and 2012 were as follows:
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
|  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Balance at beginning of period |  | $ | 21,977 |  | $ | 29,057 |  | $ | 29,729 |  | $ | 22,997 |
Additions |  | 308 |  | 7,018 |  | 3,278 |  | 16,329 |
Proceeds from sales |  | (1,348 | ) | (2,469 | ) | (7,581 | ) | (5,553 | )
Charge-offs against the valuation allowance for other real estate owned, net |  | (93 | ) | (1,075 | ) | (4,416 | ) | (1,318 | )
Repossessed assets impairment write-downs |  | (39 | ) | 0 |  | (239 | ) | 0 |
Net (loss) gain on sales |  | (185 | ) | 144 |  | (151 | ) | 220 |
Total other real estate owned and repossessed assets |  | $ | 20,620 |  | $ | 32,675 |  | $ | 20,620 |  | $ | 32,675 |
Less valuation allowance for other real estate owned |  | (4,752 | ) | (7,480 | ) | (4,752 | ) | (7,480 | )
Balance at end of period |  | $ | 15,868 |  | $ | 25,195 |  | $ | 15,868 |  | $ | 25,195 |
Activity in the valuation allowance for other real estate owned in settlement of loans for the three and nine months ended September 30, 2013 and 2012, respectively, is summarized as follows:
|  | Three Months Ended |  | Nine Months Ended |
|  | September 30, |  | September 30, |
(in thousands) |  | 2013 |  | 2012 |  | 2013 |  | 2012 |
Balance, beginning of year |  | $ | 3,999 |  | $ | 7,474 |  | $ | 6,137 |  | $ | 6,977 |
Provision for other real estate owned |  | 846 |  | 1,081 |  | 3,031 |  | 1,821 |
Charge-offs |  | (93 | ) | (1,075 | ) | (4,416 | ) | (1,318 | )
Balance, end of year |  | $ | 4,752 |  | $ | 7,480 |  | $ | 4,752 |  | $ | 7,480 |
The increase in the expense provision for other real estate owned during 2013 primarily related to commercial property located in the Branson area that sold at auction during the second quarter of 2013. These amounts are reflected in other real estate expense in the consolidated statements of operations.

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- Definition The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 11 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=28367877&loc=d3e4437-111522 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 43 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1739-110224 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.10(4)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6905009&loc=d3e18511-111553 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 40 -Section 40 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6905009&loc=d3e18551-111553 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 10 -Subparagraph 4 -Article 9 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 35 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=29634951&loc=d3e1424-110224 + Details
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