OTHER REAL ESTATE OWNED

3 Months Ended

Mar. 31, 2015

OTHER REAL ESTATE OWNED [Abstract]

OTHER REAL ESTATE OWNED

NOTE 4 – OTHER REAL ESTATE OWNED

The following table presents the activity in other real estate owned (“OREO”) for the periods indicated:

	Three months ended		Year ended
	March 31,		December 31,
	2015	2014	2014
	(In thousands)
Balance at beginning of period	$        33,984	$     69,338	$           69,338
Additions to foreclosed properties
New foreclosed properties	2,804	4,855	14,732
Reductions in foreclosed properties
Sales	(6,726)	(8,767)	(42,013)
Writedowns	(2,173)	(1,831)	(8,073)
Balance at end of period	$        27,889	$     63,595	$           33,984

The following tables present the OREO by geographical location, segment and class as of the dates indicated:

	March 31, 2015
	Alabama
	and Florida
	Panhandle	Arkansas	Louisiana	Mississippi	Missouri	Tennessee	Texas	Other	Total
	(In thousands)
Commercial and industrial	$           84	$            -	$           -	$          -	$          -	$            -	$          -	$          -	$          84
Real estate
Consumer mortgages	264	79	25	1,289	-	38	4	-	1,699
Home equity	-	-	-	101	-	-	-	-	101
Agricultural	-	-	-	25	-	-	-	-	25
Commercial and industrial-owner occupied	199	-	-	1,424	-	307	60	-	1,990
Construction, acquisition and development	3,886	84	139	16,069	-	2,627	-	-	22,805
Commercial real estate	170	-	-	646	-	121	63	-	1,000
All other	-	27	-	99	-	59	-	-	185
Total	$      4,603	$       190	$      164	$ 19,653	$          -	$    3,152	$     127	$          -	$   27,889

	December 31, 2014
	Alabama
	and Florida
	Panhandle	Arkansas	Louisiana	Mississippi	Missouri	Tennessee	Texas	Other	Total
	(In thousands)
Commercial and industrial	$           84	$            -	$           -	$          -	$          -	$            -	$          -	$          -	$          84
Real estate
Consumer mortgages	309	97	470	1,181	-	198	39	-	2,294
Home equity	24	-	-	188	-	-	-	-	212
Agricultural	-	-	-	25	-	-	-	-	25
Commercial and industrial-owner occupied	-	-	-	1,162	-	223	60	-	1,445
Construction, acquisition and development	7,302	84	140	17,152	-	3,006	56	-	27,740
Commercial real estate	1,000	256	-	646	-	121	63	-	2,086
All other	-	-	-	98	-	-	-	-	98
Total	$      8,719	$       437	$      610	$ 20,452	$          -	$    3,548	$     218	$          -	$   33,984

	March 31, 2014
	Alabama
	and Florida
	Panhandle	Arkansas	Louisiana	Mississippi	Missouri	Tennessee	Texas	Other	Total
	(In thousands)
Commercial and industrial	$           84	$            -	$           -	$          -	$          -	$            -	$          -	$          -	$          84
Real estate
Consumer mortgages	822	232	-	2,533	62	199	5	-	3,853
Home equity	442	-	-	556	-	-	-	-	998
Agricultural	907	-	-	216	-	1,083	-	-	2,206
Commercial and industrial-owner occupied	33	33	-	1,804	-	751	105	-	2,726
Construction, acquisition and development	15,035	94	257	27,512	861	7,327	-	-	51,086
Commercial real estate	352	316	-	568	-	1,035	106	-	2,377
All other	-	-	-	85	-	-	147	33	265
Total	$    17,675	$       675	$      257	$ 33,274	$     923	$  10,395	$     363	$       33	$   63,595

The Company incurred total foreclosed property expenses of $2.0 million and $2.6 million for the three months ended March 31, 2015 and 2014, respectively.  Realized net losses on dispositions and holding losses on valuations of these properties, a component of total foreclosed property expenses, were $1.4 million and  $2.3 million for the three months ended March 31, 2015 and 2014, respectively.