Other Real Estate Owned ("OREO"), net

9 Months Ended

Sep. 30, 2012

Real Estate [Abstract]

Real Estate Owned [Text Block]

7. Other Real Estate Owned (“OREO”), net

The following table presents activity related to OREO for the periods shown (dollars in thousands):

	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
Balance at beginning of period	$	12,251		$	37,112		$	21,270		$	39,536
Additions		296			2,336			1,268			9,186
Dispositions		(8,909	)		(4,831	)		(26,314	)		(12,893	)
Change in valuation allowance		4,909			(4,303	)		12,323			(5,515	)
Balances at end of period	$	8,547		$	30,314		$	8,547		$	30,314

The following table summarizes activity in the OREO valuation allowance for the periods shown (dollars in thousands):

	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
Balance at beginning of period	$	22,872		$	18,061		$	30,287		$	16,849
Additions to the valuation allowance		-			4,493			86			6,762
Reductions due to sales		(4,909	)		(190	)		(12,410	)		(1,247	)
Balance at end of period	$	17,963		$	22,364		$	17,963		$	22,364

The following table summarizes OREO expenses for the periods shown (dollars in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012			2011
Operating costs	$	85	$	157	$	786		$	599
Net (gains) losses on dispositions		-		1,366		(38	)		1,545
Increases in valuation allowance		-		4,493		86			6,762
Total	$	85	$	6,016	$	834		$	8,906