Note 9: Foreclosed Assets Held For Sale

3 Months Ended

Sep. 30, 2013

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,
	2013	2012
(In Thousands)
One-to four-family construction	$--	$627
Subdivision construction	13,092	17,147
Land development	15,293	14,058
Commercial construction	2,245	6,511
One-to four-family residential	1,070	1,200
Other residential	5,632	7,232
Commercial real estate	3,239	2,738
Commercial business	98	160
Consumer	1,132	471
	41,801	50,144
FDIC-supported foreclosed assets, net of discounts	13,805	18,730
	$55,606	$68,874

Expenses applicable to foreclosed assets included the following:

	Three Months Ended September 30,
	2013	2012
(In Thousands)
Net loss on sales of foreclosed assets	$27	$320
Valuation write-downs	258	1,292
Operating expenses, net of rental income	783	924
	$1,068	$2,536

	Nine Months Ended September 30,
	2013	2012
(In Thousands)
Net gain on sales of foreclosed assets	$(255)	$(1,077)
Valuation write-downs	1,313	2,691
Operating expenses, net of rental income	2,420	2,589
	$3,478	$4,203