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REAL ESTATE ACQUIRED THROUGH FORECLOSURE
9 Months Ended
Sep. 30, 2012
Real Estate [Abstract]  
Real Estate Disclosure [Text Block]
5.REAL ESTATE ACQUIRED THROUGH FORECLOSURE

 

A summary of the real estate acquired through foreclosure activity is as follows:

 

  September 30,  December 31, 
(Dollars in thousands) 2012  2011 
       
Beginning balance $29,083  $25,807 
Additions  15,473   19,416 
Sales  (10,994)  (6,877)
Writedowns  (4,913)  (9,263)
Ending balance $28,649  $29,083 

 

The increase in real estate acquired through foreclosure expense for the nine month period ended September 30, 2012 was primarily due to a $1.5 million termination fee recorded in the second quarter that was related to the termination of a property investment and management agreement on a residential development held in other real estate owned.