OTHER REAL ESTATE OWNED (OREO) (Tables)

9 Months Ended

Sep. 30, 2013

OTHER REAL ESTATE OWNED (OREO)

Summary of OREO by property type

	September 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	$	11,914	$	6,912	$	18,826	$	1,684	$	11,635	$	13,319
Construction and land development		32,025		4,106		36,131		31,888		6,708		38,596
Multi-family		—		989		989		—		4,239		4,239
Single family residence		19		7		26		—		260		260
Total OREO, net	$	43,958	$	12,014	$	55,972	$	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
Foreclosures		3,196			468			3,664
Payments to third parties(1)		24			—			24
Provision for losses		(643	)		26			(617	)
Reductions related to sales		(4,051	)		(7,594	)		(11,645	)
Balance, September 30, 2013	$	43,958		$	12,014		$	55,972

(1)

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