OTHER REAL ESTATE OWNED (OREO) (Tables)

6 Months Ended

Jun. 30, 2012

OTHER REAL ESTATE OWNED (OREO)

Summary of OREO by property type

	June 30, 2012						December 31, 2011
Property Type	Non-Covered OREO		Covered OREO		Total OREO		Non-Covered OREO		Covered OREO		Total OREO
	(In thousands)
Commercial real estate	$	17,630	$	17,896	$	35,526	$	23,003	$	15,053	$	38,056
Construction and land development		24,112		10,011		34,123		24,788		15,461		40,249
Single family residence		—		3,183		3,183		621		2,992		3,613
Total OREO, net	$	41,742	$	31,090	$	72,832	$	48,412	$	33,506	$	81,918

Schedule of roll forward of OREO, net of the valuation allowance

	Non-Covered OREO			Covered OREO			Total OREO
	(In thousands)
OREO Activity:
Balance, December 31, 2011	$	48,412		$	33,506		$	81,918
Foreclosures		1,839			7,241			9,080
Payments to third parties(1)		622			—			622
Provision for losses		(752	)		(2,229	)		(2,981	)
Reductions related to sales		(3,915	)		(8,630	)		(12,545	)
Balance, March 31, 2012		46,206			29,888			76,094
Foreclosures		684			9,957			10,641
Payments to third parties(1)		91			—			91
Provision for losses		(101	)		(2,704	)		(2,805	)
Reductions related to sales		(5,138	)		(6,051	)		(11,189	)
Balance, June 30, 2012	$	41,742		$	31,090		$	72,832

⁽¹⁾

Represents amounts due to participants and for guarantees, property taxes or other prior lien positions.