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Other Real Estate Owned (Tables)
 6 Months Ended
Jun. 30, 2014
Real Estate [Abstract]  
Other real estate owned ("OREO") covered and not covered under a loss-share agreement, net of valuation allowances and direct write-downs
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, 2014
 
 
 
 
 
Residential real estate
$
1,286

 
$
6,507

 
$
7,793

Commercial real estate
2,182

 
8,557

 
10,739

Residential land development
625

 
8,563

 
9,188

Commercial land development
3,379

 
10,704

 
14,083

Total
$
7,472

 
$
34,331

 
$
41,803

December 31, 2013
 
 
 
 
 
Residential real estate
$
2,133

 
$
6,767

 
$
8,900

Commercial real estate
3,598

 
8,984

 
12,582

Residential land development
1,161

 
12,334

 
13,495

Commercial land development
6,050

 
11,860

 
17,910

Other
—

 
—

 
—

Total
$
12,942

 
$
39,945

 
$
52,887
Changes in OREO covered and not covered under a loss-share agreement
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, 2014
$
12,942

 
$
39,945

 
$
52,887

Transfers of loans
3,363

 
2,666

 
6,029

Capitalized improvements
—

 
—

 
—

Impairments(1)
(1,950
)
 
(656
)
 
(2,606
)
Dispositions
(6,589
)
 
(7,753
)
 
(14,342
)
Other
(294
)
 
129

 
(165
)
Balance at June 30, 2014
$
7,472

 
$
34,331

 
$
41,803

 
(1)
Of the total impairment charges of $1,950 recorded for covered OREO, $390 was included in the Consolidated Statements of Income for the six months ended June 30, 2014, while the remaining $1,560 increased the FDIC loss-share indemnification asset.
Components of "Other real estate owned" in the Consolidated Statements of Income
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,
 
2014
 
2013
 
2014
 
2013
Repairs and maintenance
$
756

 
$
555

 
$
1,537

 
$
908

Property taxes and insurance
56

 
304

 
297

 
657

Impairments
207

 
1,249

 
1,045

 
2,235

Net losses (gains) on OREO sales
102

 
(252
)
 
(12
)
 
218

Rental income
(53
)
 
(83
)
 
(98
)
 
(196
)
Total
$
1,068

 
$
1,773

 
$
2,769

 
$
3,822