| 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 June 30, |
|
Six Months Ended June 30, |
| (Dollars in Thousands) |
|
2014 |
|
2013 |
|
2014 |
|
2013 |
| Beginning Balance |
|
$ |
44,036 |
|
|
$ |
58,421 |
|
|
$ |
48,071 |
|
|
$ |
53,426 |
|
| Additions |
|
|
7,977 |
|
|
|
4,355 |
|
|
|
9,267 |
|
|
|
17,334 |
|
| Valuation Write-downs |
|
|
(822 |
) |
|
|
(1,060 |
) |
|
|
(1,552 |
) |
|
|
(2,205 |
) |
| Sales |
|
|
(8,612 |
) |
|
|
(6,629 |
) |
|
|
(13,207 |
) |
|
|
(13,369 |
) |
| Other |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(99 |
) |
| Ending Balance |
|
$ |
42,579 |
|
|
$ |
55,087 |
|
|
$ |
42,579 |
|
|
$ |
55,087 |
|
Net expenses applicable to other real estate owned include the following:
| |
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
| (Dollars in Thousands) |
|
2014 |
|
2013 |
|
2014 |
|
2013 |
| Gains from the Sale of Properties |
|
$ |
(88 |
) |
|
$ |
(118 |
) |
|
$ |
(334 |
) |
|
$ |
(178 |
) |
| Losses from the Sale of Properties |
|
|
808 |
|
|
|
491 |
|
|
|
1,165 |
|
|
|
1,289 |
|
| Rental Income from Properties |
|
|
(60 |
) |
|
|
(111 |
) |
|
|
(275 |
) |
|
|
(127 |
) |
| Property Carrying Costs |
|
|
794 |
|
|
|
968 |
|
|
|
1,567 |
|
|
|
1,926 |
|
| Valuation Adjustments |
|
|
822 |
|
|
|
1,060 |
|
|
|
1,552 |
|
|
|
2,205 |
|
| Total |
|
$ |
2,276 |
|
|
$ |
2,290 |
|
|
$ |
3,675 |
|
|
$ |
5,115 |
|
|