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Other Real Estate Owned (Tables)
 6 Months Ended
Jun. 30, 2016
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, 2016
 
 
 
 
 
Residential real estate
$
1,215

 
$
2,324

 
$
3,539

Commercial real estate
86

 
9,653

 
9,739

Residential land development
1

 
4,228

 
4,229

Commercial land development
1,316

 
10,516

 
11,832

Total
$
2,618

 
$
26,721

 
$
29,339

December 31, 2015
 
 
 
 
 
Residential real estate
$
529

 
$
4,265

 
$
4,794

Commercial real estate
346

 
11,041

 
11,387

Residential land development
1

 
4,595

 
4,596

Commercial land development
1,942

 
12,683

 
14,625

Total
$
2,818

 
$
32,584

 
$
35,402
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, 2016
$
2,818

 
$
32,584

 
$
35,402

Transfer of balance to not covered OREO(1)
(1,341
)
 
1,341

 
—

Transfers of loans
1,479

 
2,029

 
3,508

Impairments(2)
(46
)
 
(1,272
)
 
(1,318
)
Dispositions
(208
)
 
(7,980
)
 
(8,188
)
Other
(84
)
 
19

 
(65
)
Balance at June 30, 2016
$
2,618

 
$
26,721

 
$
29,339

 
(1)
Represents a transfer of balance on non-single family assets of Citizens Bank of Effingham (assumed in the Heritage acquisition). The claim period to submit losses to the FDIC for reimbursement ended February 29, 2016 for non-single family assets.
(2)
Of the total impairment charges of $46 recorded for covered OREO, $9 was included in the Consolidated Statements of Income for the six months ended June 30, 2016, while the remaining $37 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,
 
2016
 
2015
 
2016
 
2015
Repairs and maintenance
$
409

 
$
105

 
$
606

 
$
298

Property taxes and insurance
148

 
148

 
618

 
384

Impairments
987

 
953

 
1,281

 
1,395

Net losses (gains) on OREO sales
181

 
(195
)
 
231

 
(483
)
Rental income
(111
)
 
(57
)
 
(165
)
 
(108
)
Total
$
1,614

 
$
954

 
$
2,571

 
$
1,486