Other Real Estate Owned ("OREO")

3 Months Ended

Mar. 31, 2013

Other Real Estate Owned ("OREO")

Other Real Estate Owned ("OREO")

Note 7.  Other Real Estate Owned (“OREO”)

The following table provides a summary of the change in the balance of OREO:

	Balance									Balance
	December 31,									March 31,
(dollar amounts in thousands)	2012		Additions		Disposals			Writedowns		2013
Construction
Commercial	$	-	$	1,211	$	(1,211	)			$	-
Totals	$	-	$	1,211	$	(1,211	)	$	-	$	-

The property that was added to OREO and subsequently sold in the first quarter of 2013, resulted in a minor loss, which was reflected as a charge-off against the ALLL in the first quarter of 2013, in accordance with U.S. GAAP.

The following table provides a summary of the change in the balance of OREO:

	Balance									Balance
	December 31,									March 31,
(dollar amounts in thousands)	2011		Additions		Disposals			Writedowns		2012
Real Estate Secured
Residential 1 to 4 family	$	-	$	176	$	(176	)	$	-	$	-
Commercial	215		-		-			-		215
Construction
Single family residential - Spec.	423		-		-			-		423
Tract	100		-		-			-		100
Land	179		-		-			-		179
Totals	$	917	$	176	$	(176	)	$	-	$	917

The Company did not realize any gains or losses related to disposal of OREO during the three months ended March 31, 2012.