OTHER REAL ESTATE OWNED (OREO) (Tables)

6 Months Ended

Jun. 30, 2013

OTHER REAL ESTATE OWNED (OREO)

Summary of OREO by property type

	June 30, 2013						December 31, 2012
Property Type	Non-Covered OREO		Covered OREO		Total OREO		Non-Covered OREO		Covered OREO		Total OREO
	(In thousands)
Commercial real estate	$	9,743	$	8,679	$	18,422	$	1,684	$	11,635	$	13,319
Construction and land development		33,050		6,306		39,356		31,888		6,708		38,596
Multi-family		—		3,807		3,807		—		4,239		4,239
Single family residence		2,639		322		2,961		—		260		260
Total OREO, net	$	45,432	$	19,114	$	64,546	$	33,572	$	22,842	$	56,414

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, 2012	$	33,572		$	22,842		$	56,414
Foreclosures		3,500			1,480			4,980
Provision for losses		(92	)		(1,093	)		(1,185	)
Reductions related to sales		(1,019	)		(5,918	)		(6,937	)
Balance, March 31, 2013		35,961			17,311			53,272
Addition from the FCAL acquisition		10,092			3,680			13,772
Foreclosures		1,035			3,075			4,110
Payments to third parties(1)		14			—			14
Provision for losses		—			(292	)		(292	)
Reductions related to sales		(1,670	)		(4,660	)		(6,330	)
Balance, June 30, 2013	$	45,432		$	19,114		$	64,546

(1)

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