Foreclosed Assets

9 Months Ended

Sep. 30, 2015

Other Real Estate Owned Net Covered and NonCovered Including Foreclosed Assets [Abstract]

Foreclosed Assets

Foreclosed Assets

The following table summarizes foreclosed assets at the dates indicated:

	September 30,		December 31,
Property Type:	2015		2014
	(In thousands)
Commercial real estate	$	3,558	$	2,449
Construction and land development	14,343		24,759
Multi‑family	3,481		4,823
Single family residence	1,663		3,392
Total other real estate owned, net	23,045		35,423
Other foreclosed assets	10,171		8,298
Total foreclosed assets, net(1)	$	33,216	$	43,721

_________________________

(1) As of September 30, 2015 and December 31, 2014, the amounts of covered foreclosed assets were $8.9 million and $9.3 million.

The following table presents the changes in foreclosed assets, net of the valuation allowance, for the period indicated:

	Foreclosed
	Assets
	(In thousands)
Balance, December 31, 2014	$	43,721
Foreclosures	13,472
Provision for losses	(5,163		)
Reductions related to sales	(18,814		)
Balance, September 30, 2015	$	33,216