Other Real Estate Owned

6 Months Ended

Jun. 30, 2011

Other Real Estate Owned

Other Real Estate Owned

Note 9 – Other Real Estate Owned

Other real estate owned and foreclosed property totaled $117,741,000 and $69,217,000 at June 30, 2011 and December 31, 2010, respectively. Other real estate owned consists of the following:

(dollars in thousands)	June 30, 2011		December 31, 2010
Real estate owned acquired by foreclosure	$	110,546	$	64,408
Other foreclosed property		18		163
Real estate acquired for development or resale		7,177		4,646
Total other real estate owned and foreclosed property	$	117,741	$	69,217

At June 30, 2011 and December 31, 2010, other real estate is segregated into covered and non-covered properties as follows:

(dollars in thousands)
June 30, 2011	Non-covered properties		Covered properties		Total
Real estate owned acquired by foreclosure	$	35,696	$	74,850	$	110,546
Other foreclosed property		18		—		18
Real estate acquired for development or resale		7,177		—		7,177
Total other real estate owned and foreclosed property	$	42,891	$	74,850	$	117,741
(dollars in thousands)
December 31, 2010	Non-covered properties		Covered properties		Total
Real estate owned acquired by foreclosure	$	13,840	$	50,568	$	64,408
Other foreclosed property		9		154		163
Real estate acquired for development or resale		4,646		—		4,646
Total other real estate owned and foreclosed property	$	18,495	$	50,722	$	69,217