XML 98 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
OTHER REAL ESTATE OWNED
 12 Months Ended
Dec. 31, 2013
OTHER REAL ESTATE OWNED [Abstract]  
OTHER REAL ESTATE OWNED

(7)  OTHER REAL ESTATE OWNED

The following table presents the activity in OREO for the years ended December 31, 2013 and 2012:

 

 

 

 

 

 

2013

 

2012

 

(In thousands)

Balance at beginning of year

$       103,248

 

$      173,805

Additions to foreclosed properties

 

 

 

New foreclosed property
29,265 

 
32,389 

Reductions in foreclosed properties

 

 

 

Sales
(57,057)

 
(81,220)

Writedowns
(6,118)

 
(21,726)

Balance at end of year

$         69,338

 

$      103,248

 

Substantially all of these amounts related to construction, acquisition and development projects that were either completed or were in various stages of construction during the year presented.  The following table presents the OREO by geographical location and collateral type at December 31, 2013:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Alabama and

 

 

 

 

 

 

 

Greater

 

 

 

Texas

 

 

 

 

 

 

Florida

 

 

 

 

 

 

 

Memphis

 

 

 

and

 

 

 

 

 

 

Panhandle

 

Arkansas*

 

Mississippi*

 

Missouri

 

Area

 

Tennessee*

 

Louisiana

 

Other

 

Total

 

 

(In thousands)

 

 

Commercial and industrial

$
223 

$

 -

$

 -

$

 -

$

 -

$

 -

$

 -

$

 -

$
223 

Real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer mortgages

 
1,613 

 
309 

 
1,532 

 
33 

 
132 

 
210 

 

 -

 
108 

 
3,937 

Home equity

 
442 

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

 

 -

 
442 

Agricultural

 
907 

 

 -

 
216 

 

 -

 
1,084 

 
930 

 

 -

 

 -

 
3,137 

Commercial and industrial-owner
occupied

 
33 

 
32 

 
1,002 

 

 -

 
449 

 
25 

 
105 

 

 -

 
1,646 

Construction, acquisition and development

 
15,667 

 
631 

 
11,631 

 
1,059 

 
22,696 

 
5,174 

 
257 

 
158 

 
57,273 

Commercial real estate

 
353 

 
316 

 
569 

 

 -

 
980 

 

 -

 
140 

 

 -

 
2,358 

All other

 
84 

 
1 

 
82 

 

 -

 
28 

 

 -

 
94 

 
33 

 
322 

    Total

$
19,322 

$
1,289 

$
15,032 

$
1,092 

$
25,369 

$
6,339 

$
596 

$
299 

$
69,338 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*  Excludes the Greater Memphis Area

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company incurred total foreclosed property expenses of $11.7 million, $39.4 million and $27.8 million in 2013, 2012 and 2011, respectively.  Realized net losses on dispositions and holding losses on valuations of these properties, a component of total foreclosed property expenses, were $7.4 million, $30.2 million and $21.4 million in 2013, 2012 and 2011, respectively.