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OTHER REAL ESTATE OWNED
 9 Months Ended
Sep. 30, 2014
OTHER REAL ESTATE OWNED [Abstract]  
OTHER REAL ESTATE OWNED
NOTE 4 – OTHER REAL ESTATE OWNED

Other real estate owned was as follows (dollars in thousands):

  
Nine
  
Year
  
Nine
 
  
Months Ended
  
Ended
  
Months Ended
 
  
September 30,
  
December 31,
  
September 30,
 
  
2014
  
2013
  
2013
 
Beginning balance
 
$
53,501
  
$
69,743
  
$
69,743
 
Additions, transfers from loans
  
2,565
   
3,539
   
3,170
 
Proceeds from sales of other real estate owned
  
(9,964
)
  
(16,501
)
  
(10,545
)
Valuation allowance reversal upon sale
  
(3,409
)
  
(4,378
)
  
(2,794
)
Gain on sale of other real estate owned
  
475
   
1,098
   
1,004
 
   
43,168
   
53,501
   
60,578
 
Less: valuation allowance
  
(14,405
)
  
(16,705
)
  
(17,782
)
Ending balance
 
$
28,763
  
$
36,796
  
$
42,796
 

  Activity in the valuation allowance was as follows (dollars in thousands):
 
  
Nine Months
  
Nine Months
 
  
Ended
  
Ended
 
  
September 30,
  
September 30,
 
  
2014
  
2013
 
Beginning balance
 
$
16,705
  
$
18,161
 
Additions charged to expense
  
1,109
   
2,415
 
Reversals upon sale
  
(3,409
)
  
(2,794
)
Ending balance
 
$
14,405
  
$
17,782