Other Real Estate Owned

6 Months Ended

Jun. 30, 2013

Real Estate [Abstract]

Other Real Estate Owned

Other Real Estate Owned

(In Thousands)

The following table provides details of the Company’s other real estate owned (“OREO”) covered and not covered under a loss-share agreement, net of valuation allowances and direct write-downs as of the dates presented:

	Covered OREO		Not Covered OREO		Total OREO
June 30, 2013
Residential real estate	$	5,091	$	3,368	$	8,459
Commercial real estate	7,955		9,139		17,094
Residential land development	2,318		15,137		17,455
Commercial land development	12,471		5,603		18,074
Other	—		—		—
Total	$	27,835	$	33,247	$	61,082
December 31, 2012
Residential real estate	$	8,778	$	7,842	$	16,620
Commercial real estate	14,368		7,779		22,147
Residential land development	5,005		22,490		27,495
Commercial land development	17,383		6,221		23,604
Other	—		385		385
Total	$	45,534	$	44,717	$	90,251

Changes in the Company’s OREO covered and not covered under a loss-share agreement were as follows:

	Covered OREO			Not Covered OREO			Total OREO
Balance at January 1, 2013	$	45,534		$	44,717		$	90,251
Transfers of loans	5,294			5,620			10,914
Capitalized improvements	—			129			129
Impairments(1)	(5,775		)	(1,080		)	(6,855		)
Dispositions	(17,172		)	(16,139		)	(33,311		)
Other	(46		)	—			(46		)
Balance at June 30, 2013	$	27,835		$	33,247		$	61,082

(1) Of the total impairment charges of $(5,775) recorded for covered OREO, $(1,155) was included in the Consolidated Statements of Income for the six months endedJune 30, 2013, while the remaining $(4,620) increased the FDIC loss-share indemnification asset.

Components of the line item “Other real estate owned” in the Consolidated Statements of Income were as follows for the periods presented:

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
Repairs and maintenance	$	555		$	617		$	908		$	1,196
Property taxes and insurance	304			127			657			576
Impairments	1,249			2,069			2,235			4,167
Net (gains) losses on OREO sales	(252		)	671			218			1,669
Rental income	(83		)	(114		)	(196		)	(239		)
Total	$	1,773		$	3,370		$	3,822		$	7,369