Other Real Estate Owned

3 Months Ended

Mar. 31, 2012

Other Real Estate Owned [Abstract]

Other Real Estate Owned

NOTE 9 – OTHER REAL ESTATE OWNED

Other real estate owned and foreclosed property totaled $126,657,000 and $125,046,000 at March 31, 2012 and December 31, 2011, respectively. Other real estate owned consists of the following:

(dollars in thousands)	March 31, 2012		December 31, 2011
Real estate owned acquired by foreclosure	$	122,639	$	119,320
Real estate acquired for development or resale		3,954		5,722
Other foreclosed property		64		4
Total other real estate owned and foreclosed property	$	126,657	$	125,046

At March 31, 2012 and December 31, 2011, other real estate is segregated into covered and non-covered properties as follows:

(dollars in thousands)
March 31, 2012	Non-covered properties		Covered properties		Total
Real estate owned acquired by foreclosure	$	31,375	$	91,264	$	122,639
Real estate acquired for development or resale		3,954		—		3,954
Other foreclosed property		55		9		64
Total other real estate owned and foreclosed property	$	35,384	$	91,273	$	126,657

(dollars in thousands)
December 31, 2011	Non-covered properties		Covered properties		Total
Real estate owned acquired by foreclosure	$	34,770	$	84,550	$	119,320
Real estate acquired for development or resale		5,722		—		5,722
Other foreclosed property		4		—		4
Total other real estate owned and foreclosed property	$	40,496	$	84,550	$	125,046