Other Real Estate Owned (Notes)

6 Months Ended

Jun. 30, 2015

Management transfers a loan to OREO at the time that Park takes deed/title of the asset. The carrying amount of foreclosed properties held at June 30, 2015 and December 31, 2014 are listed below, as well as the recorded investment of loans secured by residential real estate properties for which formal foreclosure proceedings are in process.



(in thousands)	June 30, 2015		December 31, 2014
OREO:
Commercial real estate	$	8,676	$	6,352
Construction real estate	9,179		11,281
Residential real estate	4,021		4,972
Total OREO	21,876		$	22,605

Loans in process of foreclosure:
Residential real estate	$	2,676	$	2,807

- 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.

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