Other Real Estate Owned (OREO)

6 Months Ended

Jun. 30, 2011

Other Real Estate Owned ("OREO")

Other Real Estate Owned ("OREO")

Note 5.  Other Real Estate Owned (“OREO”)

The following table provides a summary of the change in the balance of OREO for the three and six months ended June 30, 2011:

	Balance											Balance
	March 31,											June 30,
(dollars in thousands)	2011			Additions		Disposals			Writedowns			2011
Real Estate Secured
Multi-family residential	$		-	$	-	$	-		$	-		$	-
Residential 1 to 4 family	-			-		-			-			-
Commercial	4,850			993		(3,386		)	(72		)	2,385
Commercial
Commercial and industrial	-			-		-			-			-
Construction
Single family residential - Spec.	459			-		-			(15		)	444
Tract	251			-		-			(9		)	242
Land	525			41		-			(50		)	516
Totals	$		6,085	$	1,034	$	(3,386	)	$	(146	)	$	3,587
	Balance											Balance
	December 31,											June 30,
(dollars in thousands)	2010			Additions		Disposals			Writedowns			2011
Real Estate Secured
Multi-family residential	$	-		-		-			-			$	-
Residential 1 to 4 family	160			$	-	$	(160	)	$	-		-
Commercial	3,953			2,578		(3,386		)	(760		)	2,385
Commercial
Commercial and industrial	464			-		(464		)	-			-
Construction
Single family residential - Spec.	475			-		-			(31		)	444
Tract	251			-		-			(9		)	242
Land	1,365			41		(811		)	(79		)	516
Totals	$	6,668		$	2,619	$	(4,821	)	$	(879	)	$	3,587

The following table provides a summary of the change in the balance of OREO for the year ended December 31, 2010:

(dollar amounts in thousands)
Beginning balance	$	946
Additions	13,280
Dispositions	(3,906		)
Write-downs	(3,652		)
Ending balance	$	6,668