Other Real Estate Owned and Other Repossessed Assets (Tables)

3 Months Ended

Mar. 31, 2014

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Real Estate Owned and Other Repossessed Assets

Real estate owned and other repossessed assets at March 31, 2014 and December 31, 2013 were as follows:

	March 31, 2014			December 31, 2013
	(Dollars in thousands)
Real estate owned and other repossessed assets	$	8,288		$	10,400
Valuation allowance		(3,588	)		(4,059	)
End of period	$	4,700		$	6,341

Valuation Allowance Related to Real Estate Owned

Activity in the valuation allowance was as follows:

	March 31, 2014			March 31, 2013
	(Dollars in thousands)
Beginning of year	$	4,059		$	6,796
Additions charged to expense		292			323
Reductions due to sales		(763	)		(912	)
End of period	$	3,588		$	6,207

Expenses Related to Foreclosed and Repossessed Assets

Expenses related to foreclosed and repossessed assets include:

	Three Months Ended March 31, 2014		Three Months Ended March 31, 2013
	(Dollars in thousands)
Net loss on sales	$	91	$	108
Provision for unrealized losses, net		292		323
Operating expenses, net of rental income		213		493
Total expenses	$	596	$	924