Real Estate Owned

12 Months Ended

Dec. 31, 2011

Real Estate Owned [Abstract]

Real Estate Owned

Note 6 – Real Estate Owned

Activity in the valuation allowance was as follows:

	2011 (Restated)			2010
	(In thousands)
Beginning valuation allowance	$	54		$	—
Additions charged to expense		2,654			1,102
Direct write-downs		(2,361	)		(1,048	)
Ending valuation allowance	$	347		$	54

Expenses related to foreclosed assets include:

	2011 (Restated)		2010
	(In thousands)
Net losses on sales	$	35	$	88
Provision for unrealized losses		2,654		1,102
Operating expenses		499		231
Total	$	3,188	$	1,421