| 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 September 30, |
|
|
Nine
Months Ended September 30, |
|
| (Dollars
in Thousands) |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
| Beginning Balance |
|
$ |
42,579 |
|
|
$ |
55,087 |
|
|
$ |
48,071 |
|
|
$ |
53,426 |
|
| Additions |
|
|
2,854 |
|
|
|
3,697 |
|
|
|
12,121 |
|
|
|
21,030 |
|
| Valuation Write-downs |
|
|
(664 |
) |
|
|
(604 |
) |
|
|
(2,216 |
) |
|
|
(2,808 |
) |
| Sales |
|
|
(2,693 |
) |
|
|
(5,162 |
) |
|
|
(15,900 |
) |
|
|
(18,531 |
) |
| Other |
|
|
(350 |
) |
|
|
|
|
|
|
(350 |
) |
|
|
(99 |
) |
| Ending Balance |
|
$ |
41,726 |
|
|
$ |
53,018 |
|
|
$ |
41,726 |
|
|
$ |
53,018 |
|
Net expenses
applicable to other real estate owned include the following:
| |
|
Three
Months Ended September 30, |
|
|
Nine
Months Ended September 30, |
|
| (Dollars
in Thousands) |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
| Gains from the Sale of Properties |
|
$ |
(107 |
) |
|
$ |
(280 |
) |
|
$ |
(441 |
) |
|
$ |
(458 |
) |
| Losses from the Sale of Properties |
|
|
483 |
|
|
|
402 |
|
|
|
1,648 |
|
|
|
1,691 |
|
| Rental Income from Properties |
|
|
(81 |
) |
|
|
(39 |
) |
|
|
(356 |
) |
|
|
(167 |
) |
| Property Carrying Costs |
|
|
824 |
|
|
|
1,181 |
|
|
|
2,391 |
|
|
|
3,107 |
|
| Valuation Adjustments |
|
|
664 |
|
|
|
604 |
|
|
|
2,216 |
|
|
|
2,808 |
|
| Total |
|
$ |
1,783 |
|
|
$ |
1,868 |
|
|
$ |
5,458 |
|
|
$ |
6,981 |
|