Other Real Estate Owned

3 Months Ended

Mar. 31, 2015

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
March 31, 2015
Residential real estate	$	753	$	3,482	$	4,235
Commercial real estate	1,904		11,288		13,192
Residential land development	491		4,235		4,726
Commercial land development	1,177		8,356		9,533
Total	$	4,325	$	27,361	$	31,686
December 31, 2014
Residential real estate	$	657	$	4,549	$	5,206
Commercial real estate	470		9,179		9,649
Residential land development	2,445		4,990		7,435
Commercial land development	2,796		9,386		12,182
Total	$	6,368	$	28,104	$	34,472

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, 2015	$	6,368		$	28,104		$	34,472
Transfers of loans	2,557			3,053			5,610
Impairments(1)	(68		)	(428		)	(496		)
Dispositions	(4,479		)	(3,379		)	(7,858		)
Other	(53		)	11			(42		)
Balance at March 31, 2015	$	4,325		$	27,361		$	31,686

(1) Of the total impairment charges of $68 recorded for covered OREO, $14 was included in the Consolidated Statements of Income for the three months endedMarch 31, 2015, while the remaining $54 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
	March 31,
	2015			2014
Repairs and maintenance	$	193		$	781
Property taxes and insurance	236			241
Impairments	442			838
Net gains on OREO sales	(288		)	(114		)
Rental income	(51		)	(45		)
Total	$	532		$	1,701