Note 9: Foreclosed Assets Held For Sale

3 Months Ended

Sep. 30, 2012

Notes

Note 9: Foreclosed Assets Held For Sale

NOTE 9: FORECLOSED ASSETS HELD FOR SALE

Major classifications of foreclosed assets were as follows:

	September 30,	December 31,
	2012	2011
(In Thousands)
One-to four-family construction	$531	$1,630
Subdivision construction	17,867	15,573
Land development	13,110	13,634
Commercial construction	6,511	2,747
One-to four-family residential	1,735	1,849
Other residential	8,584	7,853
Commercial real estate	2,633	2,290
Commercial business	175	85
Consumer	369	1,211
Total foreclosed assets before FDIC supported foreclosed assets	51,515	46,872
FDIC-supported foreclosed assets, net of discounts	22,530	20,749
Total foreclosed assets	$74,045	$67,621

Expenses applicable to foreclosed assets included the following:

	Three Months Ended September 30,
	2012	2011
(In Thousands)
Net loss on sales of foreclosed assets	$320	$95
Valuation write-downs	1,292	--
Operating expenses, net of rental income	924	753
Total foreclosed assets expenses	$2,536	$848

	Nine Months Ended September 30,
	2012	2011
(In Thousands)
Net gain on sales of foreclosed assets	$(1,077)	$(189)
Valuation write-downs	2,691	--
Operating expenses, net of rental income	2,589	2,092
Total foreclosed assets expenses	$4,203	$1,903