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Real Estate Owned

12 Months Ended

Mar. 31, 2012

8.	REAL ESTATE OWNED

The following table is a summary of the activity in REO for the periods indicated (in thousands):

	Year Ended March 31,
	2012			2011			2010
Balance at beginning of year, net	$	27,590		$	13,325		$	14,171
Additions		7,050			22,822			19,644
Dispositions		(11,671	)		(7,633	)		(15,696	)
Writedowns		(4,238	)		(924	)		(4,794	)
Balance at end of year, net	$	18,731		$	27,590		$	13,325

REO expenses for the year ended March 31, 2012 consisted of write-downs on existing REO properties of $4.2 million and operating expenses of $859,000. Net losses on dispositions of REO totaled $556,000 for the year ended March 31, 2012, and were included in other non-interest income in the accompanying Consolidated Statements of Operations. REO expenses for the year ended March 31, 2011 consisted of write-downs on existing REO properties of $924,000, operating expenses of $893,000 and net gains on dispositions of REO totaled $386,000 for the year ended March 31, 2011. REO expenses for the year ended March 31, 2010 consisted of write-downs on existing REO properties of $4.8 million, operating expenses of $726,000 and losses on dispositions of REO of $902,000.