XML 90 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other Real Estate Owned
 12 Months Ended
Dec. 31, 2013
Other Real Estate Owned [Abstract]  
Other Real Estate Owned

 

 

Note 6  - Other real estate owned

At December 31, 2013  and 2012, OREO was $1,451 and $2,112 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 2013 and 2012.

 

 

 

OREO Changes

 

Year Ended December 31,

 

2013

2012

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

Transfers from Loans
860 
2,070 

Capitalized Costs

-
5 

Write-downs to OREO expense
(368)
(650)

Sales
(1,140)
(2,489)

(Loss) on disposition
(13)
(77)

Balance at the end of the year (net)
$
1,451 
$
2,112 

 

The following table sets forth the OREO expenses in 2013 and 2012

 

 

 

 

 

OREO Expense

 

Year Ended December 31,

 

2013

 

2012

Loss on disposition
$
13 

 
$
77 

Write-downs
368 

 
650 

Expenses
125 

 
71 

Total
$
506 

 
$
798