OTHER REAL ESTATE OWNED

3 Months Ended

Mar. 31, 2012

NOTE 4 – OTHER REAL ESTATE OWNED

The following table presents the activity in other real estate owned for the periods indicated:

	Three months ended						Year ended
	March 31,						December 31,
	2012			2011			2011
	(In thousands)
Balance at beginning of period	$	173,805		$	133,412		$	133,412
Additions to foreclosed properties
New foreclosed properties		10,766			21,464			125,234
Reductions in foreclosed properties
Sales		(11,771	)		(13,528	)		(64,488	)
Writedowns		(4,992	)		(4,936	)		(20,353	)
Balance at end of period	$	167,808		$	136,412		$	173,805

The following table presents the other real estate owned by geographical location, segment and class at March 31, 2012:

	Alabama and Florida Panhandle		Arkansas*		Mississippi*		Missouri		Greater Memphis Area		Tennessee*		Texas and Louisiana		Other		Total
	(In thousands)
Commercial and industrial	$	423	$	16	$	-	$	-	$	821	$	-	$	-	$	-	$	1,260
Real estate
Consumer mortgages		3,505		615		2,970		-		4,713		3,523		111		3,377		18,814
Home equity		-		26		22		-		586		141		-		-		775
Agricultural		902		-		730		-		1,164		2,371		-		-		5,167
Commercial and industrial-owner occupied		1,564		656		2,583		2,113		1,829		164		174		291		9,374
Construction, acquisition and development		16,179		1,766		25,510		1,965		46,007		19,458		2,630		-		113,515
Commercial real estate		3,557		1,744		3,241		307		7,318		-		233		579		16,979
All other		209		83		990		117		437		-		55		33		1,924
Total	$	26,339	$	4,906	$	36,046	$	4,502	$	62,875	$	25,657	$	3,203	$	4,280	$	167,808
* Excludes the Greater Memphis Area.

The Company incurred total foreclosed property expenses of $8.4 million and $7.1 million for the three months ended March 31, 2012 and 2011, respectively. Realized net losses on dispositions and holding losses on valuations of these properties, a component of total foreclosed property expenses, were $5.8 million and $5.4 million for the three months ended March 31, 2012 and 2011, respectively.

- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

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+ Details