XML 73 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Real Estate and Other Assets Acquired in Settlement of Loans
 9 Months Ended
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.