Non-Covered Other Real Estate Owned, Net

9 Months Ended

Sep. 30, 2012

Non-Covered Other Real Estate Owned, Net [Abstract]

Non-Covered Other Real Estate Owned, Net

Note 8 – Non-covered Other Real Estate Owned, Net

The following table presents the changes in non-covered other real estate owned (“OREO”) for the three and nine months ended September 30, 2012 and 2011: 

(in thousands)
	Three months ended				Nine months ended
	September 30,				September 30,
	2012		2011		2012		2011
Balance, beginning of period	$	26,884	$	34,409	$	34,175	$	32,791
Additions to OREO		1,174		11,332		10,167		36,654
Dispositions of OREO		(7,750)		(8,954)		(19,315)		(27,140)
Valuation adjustments in the period		(1,044)		(2,000)		(5,763)		(7,518)
Balance, end of period	$	19,264	$	34,787	$	19,264	$	34,787