Note 5: Foreclosed Assets Held For Sale

12 Months Ended

Dec. 31, 2012

Notes

Note 5: Foreclosed Assets Held For Sale

Note 5:      Foreclosed Assets Held for Sale

Major classifications of foreclosed assets at December 31, 2012 and 2011, were as follows:

	2012	2011
(In Thousands)
One- to four-family construction	$627	$1,630
Subdivision construction	17,147	15,573
Land development	14,058	13,634
Commercial construction	6,511	2,747
One- to four-family residential	1,200	1,849
Other residential	7,232	7,853
Commercial real estate	2,738	2,290
Commercial business	160	85
Consumer	471	1,211
	50,144	46,872
FDIC-supported foreclosed assets, net of discounts	18,730	20,749
Total	$68,874	$67,621

Expenses applicable to foreclosed assets for the years ended December 31, 2012, 2011 and 2010, included the following:

	2012	2011	2010
(In Thousands)
Net gain on sales of real estate	$(1,603)	$(1,504)	$(1,045)
Valuation write-downs	6,786	10,437	3,169
Operating expenses, net of rental
income	3,565	2,913	2,790
Total	$8,748	$11,846	$4,914