Note 9: Other Real Estate Owned

3 Months Ended

Sep. 30, 2014

Notes

Note 9: Other Real Estate Owned

NOTE 9: OTHER REAL ESTATE OWNED

Major classifications of other real estate owned were as follows:

	September 30,	December 31,
	2014	2013
(In Thousands)
Foreclosed assets held for sale
One- to four-family construction	$--	$--
Subdivision construction	9,778	11,652
Land development	17,752	16,788
Commercial construction	--	2,132
One- to four-family residential	1,564	744
Other residential	3,577	5,900
Commercial real estate	1,779	4,135
Commercial business	59	77
Consumer	565	969
	35,074	42,397
FDIC-supported foreclosed assets, net of discounts	6,668	9,006
Foreclosed assets held for sale, net	41,742	51,403
Other real estate owned not acquired through
foreclosure	2,020	2,111
Other real estate owned	$43,762	$53,514

Other real estate owned not acquired through foreclosure includes 12 properties, 11 of which were branch locations that have been closed and are held for sale, and one of which is land which was acquired for a potential branch location. 

Expenses applicable to foreclosed assets included the following:

	Three Months Ended September 30,
	2014	2013
(In Thousands)
Net (gain) loss on sales of foreclosed assets	$126	$27
Valuation write-downs	158	258
Operating expenses, net of rental income	698	783
	$982	$1,068

	Nine Months Ended September 30,
	2014	2013
(In Thousands)
Net (gain) loss on sales of foreclosed assets	$72	$(255)
Valuation write-downs	1,357	1,313
Operating expenses, net of rental income	1,744	2,420
	$3,173	$3,478