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Note 5 - Valuation Allowance on Foreclosed Properties
 12 Months Ended
Dec. 31, 2012
Valuation Allowance On Foreclosed Properties [Text Block]
Note 5. Foreclosed Properties

Changes in foreclosed properties for 2012 were as follows:

(Dollars In Thousands)
 
Other Real
Estate Owned
   
Valuation
Allowance
   
Net
 
Balance at the beginning of the year
 
$
9,893
   
$
(331
)
 
$
9,562
 
Additions
   
1,665
     
—
     
1,665
 
Writedowns
   
—
     
(486
)
   
(486
)
Sales
   
(2,045
)
   
242
     
(1,803
)
Balance at the end of the year
 
$
9,513
   
$
(575
)
 
$
8,938
 

Changes in foreclosed properties for 2011 were as follows:

(Dollars In Thousands)
 
Other Real
Estate Owned
   
Valuation
Allowance
   
Net
 
Balance at the beginning of the year
 
$
3,045
   
$
(69
)
 
$
2,976
 
Additions
   
7,683
     
—
     
7,683
 
Writedowns
   
—
     
(262
)
   
(262
)
Sales
   
(835
)
   
—
     
(835
)
Balance at the end of the year
 
$
9,893
   
$
(331
)
 
$
9,562
 

The major classifications of other real estate owned in the consolidated balance sheets at December 31, 2012 and December 31, 2011 were as follows:

(Dollars In Thousands)
 
December 31,
2012
   
December 31,
2011
 
Construction:
           
Residential
 
$
588
   
$
1,447
 
Land acquisition, development & commercial
   
3,591
     
3,805
 
Real Estate:
               
Residential
   
182
     
612
 
Commercial
   
2,905
     
1,919
 
Commercial, industrial & agricultural
   
1,164
     
1,215
 
Equity lines
   
508
     
564
 
   
$
8,938
   
$
9,562