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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2012
Other Real Estate Owned [Abstract]  
Other Real Estate Owned

Note 6 - Other real estate owned

At December 31, 2012 and 2011, OREO was $2,112 and $3,253, respectively. OREO is primarily comprised of residential properties and non-residential properties associated with commercial relationships, and are located in Virginia.  The following table represents the changes in OREO balance in 2012 and 2011.

OREO Changes

 

Year Ended December 31,

 

2012

2011

Balance at the beginning of the year (net)
$
3,253 
$
3,440 

Transfers from Loans
2,070 
4,619 

Capitalized Costs
5 
20 

Write-downs to OREO expense
(650)
(395)

Sales
(2,489)
(3,944)

(Loss) on disposition
(77)
(487)

Balance at the end of the year (net)
$
2,112 
$
3,253 

 

The following table sets forth the OREO expenses in 2012 and 2011

 

 

 

 

 

OREO Expense

 

Year Ended December 31,

 

2012

 

2011

Loss on disposition
$
77 

 
$
487 

Write-downs
650 

 
395 

Expenses
71 

 
139 

Total
$
798 

 
$
1,021