Other Real Estate Owned ("OREO")

12 Months Ended

Dec. 31, 2013

Other Real Estate Owned ("OREO")

Other Real Estate Owned ("OREO")

Note 9.  Other Real Estate Owned (“OREO”)

The following tables summarize the changes in the balance of other real estate owned for the years ended December 31, 2013, 2012 and 2011:

	Balance									Balance
	December 31,									December 31,
(dollar amounts in thousands)	2012		Additions		Disposals			Writedowns		2013
Real Estate Secured
Commercial	$	-	$	1,374	$	(1,374	)	$	-	$	-
Totals	$	-	$	1,374	$	(1,374	)	$	-	$	-

	Balance										Balance
	December 31,										December 31,
(dollar amounts in thousands)	2011		Additions		Disposals			Writedowns			2012
Real Estate Secured
Residential 1 to 4 family	$	-	$	607	$	(576	)	$	(31	)	$	-
Commercial	215		-		(215		)	-			-
Construction
Single family residential - Spec.	423		-		(397		)	(26		)	-
Tract	100		-		(100		)	-			-
Land	179		162		(300		)	(41		)	-
Totals	$	917	$	769	$	(1,588	)	$	(98	)	$	-

	Balance										Balance
	December 31,										December 31,
(dollar amounts in thousands)	2010		Additions		Disposals			Writedowns			2011
Real Estate Secured
Residential 1 to 4 family	$	160	$	865	$	(1,025	)	$	-		$	-
Commercial	3,953		2,578		(5,500		)	(816		)	215
Commercial
Commercial and industrial	464		-		(464		)	-			-
Construction
Single family residential - Spec.	475		-		-			(52		)	423
Tract	251		-		(117		)	(34		)	100
Land	1,365		41		(994		)	(233		)	179
Totals	$	6,668	$	3,484	$	(8,100	)	$	(1,135	)	$	917

Write-downs of OREO as reported in the Consolidated Statements of Income include minor adjustments for first liens held by other institutions related to the Bank’s OREO and forfeited deposits from potential buyers of OREO, which items are not reflected in the above tables.  In January 2013, the Bank foreclosed on a loan resulting in a $1.4 million increase in OREO and a corresponding decrease in non-accruing loans.  The Company did not realize any gains or losses related to disposal of OREO during 2013.