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Other Real Estate Owned
12 Months Ended
Dec. 31, 2011
Real Estate Owned, Disclosure Of Detailed Components [Abstract]  
Other Real Estate Owned

NOTE 6 – Other Real Estate Owned

 

Other real estate owned is comprised of real estate held for investment and real estate acquired in settlement of loans and is included in other assets on the balance sheet. At December 31, 2010, real estate held for investment totaled $1.7 million and consisted of one commercial property which was sold during 2011. The following summarizes the activity in the real estate acquired in settlement of loans portion of other real estate owned:

 

     
         
For the year ended December 31,
(dollars in thousands)   2011   2010
Balance, beginning of year   $ 5,628       3,704
Additions 907 3,433
Sales (2,067 ) (940 )
Write-downs     (782 )      (568 )
Balance, end of year   $ 3,686       5,629