XML 76 R10.htm IDEA: XBRL DOCUMENT v3.3.0.814
OTHER REAL ESTATE OWNED
 9 Months Ended
Sep. 30, 2015
OTHER REAL ESTATE OWNED [Abstract]  
OTHER REAL ESTATE OWNED

NOTE 4 – OTHER REAL ESTATE OWNED

 

The following table presents the activity in other real estate owned (“OREO”) for the periods indicated:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nine months ended

 

Year ended

 

 

September 30,

 

December 31,

 

 

2015

 

2014

 

2014

 

 

 

 

 

 

 

 

 

(In thousands)

Balance at beginning of period

 

$        33,984

 

$     69,338

 

$           69,338

Additions to foreclosed properties

 

 

 

 

 

 

New foreclosed properties

 
5,867 

 
12,475 

 
14,732 

Reductions in foreclosed properties

 

 

 

 

 

 

Sales

 
(12,422)

 
(33,465)

 
(42,013)

Writedowns

 
(3,733)

 
(5,657)

 
(8,073)

Balance at end of period

 

$        23,696

 

$     42,691

 

$           33,984

  

The following tables present the OREO by geographical location, segment and class as of the dates indicated:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2015

 

 

Alabama

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and Florida

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Panhandle

 

Arkansas

 

Louisiana

 

Mississippi

 

Missouri

 

Tennessee

 

Texas

 

Other

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands)

 

 

Commercial and industrial

 

$           84

 

$            -

 

$           -

 

$          -

 

$          -

 

$            -

 

$          -

 

$          -

 

$          84

 

 

Real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consumer mortgages

 
214 

 
116 

 
53 

 
2,039 

 

 -

 
180 

 
4 

 

 -

 
2,606 

 

 

Home equity

 

 -

 

 -

 

 -

 
101 

 

 -

 

 -

 

 -

 

 -

 
101 

 

 

Agricultural

 

 -

 

 -

 

 -

 
25 

 

 -

 

 -

 

 -

 

 -

 
25 

 

 

Commercial and industrial-owner occupied

 
260 

 

 -

 

 -

 
601 

 

 -

 
385 

 
60 

 

 -

 
1,306 

 

 

Construction, acquisition and development

 
3,689 

 
84 

 
130 

 
12,693 

 

 -

 
2,134 

 

 -

 

 -

 
18,730 

 

 

Commercial real estate

 
170 

 
108 

 

 -

 
278 

 
127 

 

 -

 
63 

 

 -

 
746 

 

 

All other

 

 -

 

 -

 

 -

 
98 

 

 -

 

 -

 

 -

 

 -

 
98 

 

 

Total

 

$      4,417

 

$       308

 

$      183

 

$ 15,835

 

$     127

 

$    2,699

 

$     127

 

$          -

 

$   23,696

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2014

 

 

Alabama

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and Florida

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Panhandle

 

Arkansas

 

Louisiana

 

Mississippi

 

Missouri

 

Tennessee

 

Texas

 

Other

 

Total

 

 

 

 

(In thousands)

 

 

Commercial and industrial

 

$           84

 

$            -

 

$           -

 

$          -

 

$          -

 

$            -

 

$          -

 

$          -

 

$          84

 

 

Real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Consumer mortgages

 
309 

 
97 

 
470 

 
1,181 

 

 -

 
198 

 
39 

 

 -

 
2,294 

 

 

  Home equity

 
24 

 

 -

 

 -

 
188 

 

 -

 

 -

 

 -

 

 -

 
212 

 

 

  Agricultural

 

 -

 

 -

 

 -

 
25 

 

 -

 

 -

 

 -

 

 -

 
25 

 

 

Commercial and industrial-owner occupied

 

 -

 

 -

 

 -

 
1,162 

 

 -

 
223 

 
60 

 

 -

 
1,445 

 

 

Construction, acquisition and development

 
7,302 

 
84 

 
140 

 
17,152 

 

 -

 
3,006 

 
56 

 

 -

 
27,740 

 

 

Commercial real estate

 
1,000 

 
256 

 

 -

 
646 

 

 -

 
121 

 
63 

 

 -

 
2,086 

 

 

All other

 

 -

 

 -

 

 -

 
98 

 

 -

 

 -

 

 -

 

 -

 
98 

 

 

    Total

 

$      8,719

 

$       437

 

$      610

 

$ 20,452

 

$          -

 

$    3,548

 

$     218

 

$          -

 

$   33,984

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2014

 

 

Alabama

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

and Florida

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Panhandle

 

Arkansas

 

Louisiana

 

Mississippi

 

Missouri

 

Tennessee

 

Texas

 

Other

 

Total

 

 

 

 

(In thousands)

 

 

Commercial and industrial

 

$           84

 

$            -

 

$           -

 

$          -

 

$          -

 

$            -

 

$          -

 

$          -

 

$          84

 

 

Real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Consumer mortgages

 
809 

 
97 

 
25 

 
1,777 

 

 -

 
173 

 
4 

 

 -

 
2,885 

 

 

  Home equity

 

 -

 

 -

 

 -

 
188 

 

 -

 

 -

 

 -

 

 -

 
188 

 

 

  Agricultural

 

 -

 

 -

 

 -

 
216 

 

 -

 
462 

 

 -

 

 -

 
678 

 

 

Commercial and industrial-owner occupied

 

 -

 

 -

 

 -

 
2,679 

 

 -

 
616 

 
60 

 

 -

 
3,355 

 

 

Construction, acquisition and development

 
8,318 

 
83 

 
140 

 
21,193 

 
37 

 
3,737 

 

 -

 

 -

 
33,508 

 

 

Commercial real estate

 
796 

 
288 

 

 -

 
767 

 

 -

 

 -

 

 -

 

 -

 
1,851 

 

 

All other

 

 -

 

 -

 

 -

 
142 

 

 -

 

 -

 

 -

 

 -

 
142 

 

 

    Total

 

$    10,007

 

$       468

 

$      165

 

$ 26,962

 

$       37

 

$    4,988

 

$       64

 

$          -

 

$   42,691

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company incurred total foreclosed property expenses of approximately $808,000 and $5.7 million for the three months ended September 30, 2015 and 2014, respectively.  Realized net gains/losses on dispositions and holding losses on valuations of these properties, a component of total foreclosed property expenses, were approximately $321,000 and $4.9 million for the three months ended September 30, 2015 and 2014, respectively.   The Company incurred total foreclosed property expenses of $4.4 million and $12.5 million for the nine months ended September 30, 2015 and 2014, respectively.  Realized net gains/losses on dispositions and holding losses on valuations of these properties, a component of total foreclosed property expenses, were $3.0 million and $10.5 million for the nine months ended September 30, 2015 and 2014, respectively.