Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED

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OTHER REAL ESTATE OWNED
3 Months Ended
Mar. 31, 2014
Notes to Financial Statements  
OTHER REAL ESTATE OWNED

NOTE 5 – OTHER REAL ESTATE OWNED

 

The following table presents other real estate owned activity for the periods indicated.

 

    Three Months Ended March 31,
(Dollars in Thousands)   2014   2013
Beginning Balance   $ 48,071     $ 53,426  
Additions     1,290       12,979  
Valuation Write-downs     (730 )     (1,145 )
Sales     (4,595 )     (6,740 )
Other     —         (99 )
Ending Balance   $ 44,036     $ 58,421  

 

Net expenses applicable to other real estate owned include the following:

 

    Three Months Ended March 31,
(Dollars in Thousands)   2014   2013
Gains from the Sale of Properties   $ (246 )   $ (60 )
Losses from the Sale of Properties     356       798  
Rental Income from Properties     (213 )     (17 )
Property Carrying Costs     772       958  
Valuation Adjustments     730       1,145  
Total   $ 1,399     $ 2,824