Real Estate Owned

12 Months Ended

Dec. 31, 2011

Real Estate Owned [Abstract]

Real Estate Owned

Note 5—Real Estate Owned

Activity in the valuation allowance was as follows:

	2011			2010
	(In thousands)
Beginning valuation allowance	$	54		$	-
Additions charged to expense		2,343			1,102
Direct write-downs		(2,361	)		(1,048	)
Ending valuation allowance	$	36		$	54

Expenses related to foreclosed assets include:

	2011		2010
	(In thousands)
Net losses on sales	$	35	$	88
Provision for unrealized losses		2,343		1,102
Operating expenses		499		231
Total	$	2,877	$	1,421