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Other Real Estate Owned (Tables)
 9 Months Ended
Sep. 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
September 30, 2014
 
 
 
 
 
Residential real estate
$
763

 
$
4,993

 
$
5,756

Commercial real estate
1,360

 
8,783

 
10,143

Residential land development
534

 
6,837

 
7,371

Commercial land development
1,376

 
9,413

 
10,789

Total
$
4,033

 
$
30,026

 
$
34,059

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
3,497

 
5,090

 
8,587

Capitalized improvements
—

 
—

 
—

Impairments(1)
(2,932
)
 
(1,315
)
 
(4,247
)
Dispositions
(9,138
)
 
(13,564
)
 
(22,702
)
Other
(336
)
 
(130
)
 
(466
)
Balance at September 30, 2014
$
4,033

 
$
30,026

 
$
34,059

 
(1)
Of the total impairment charges of $2,932 recorded for covered OREO, $586 was included in the Consolidated Statements of Income for the nine months ended September 30, 2014, while the remaining $2,346 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
 
Nine Months Ended
 
September 30,
 
September 30,
 
2014
 
2013
 
2014
 
2013
Repairs and maintenance
$
223

 
$
565

 
$
1,760

 
$
1,473

Property taxes and insurance
148

 
163

 
445

 
820

Impairments
856

 
594

 
1,901

 
2,829

Net losses (gains) on OREO sales
(85
)
 
293

 
(97
)
 
511

Rental income
(41
)
 
(78
)
 
(139
)
 
(274
)
Total
$
1,101

 
$
1,537

 
$
3,870

 
$
5,359