Foreclosed Assets

12 Months Ended

Dec. 31, 2011

Foreclosed Assets [Abstract]

Foreclosed Assets

NOTE 5, Foreclosed Assets

Foreclosed assets are presented net of a valuation allowance for losses. An analysis of the valuation allowance on foreclosed assets is as follows:

	Years Ended December 31,
	2011			2010			2009
	(in thousands)
Balance at beginning of year	$	2,124		$	860		$	428
Additions and write-downs		942			1,379			695
Reductions due to sales		(1,215	)		(115	)		(263	)
Balance at end of year	$	1,851		$	2,124		$	860

Expenses applicable to foreclosed assets include the following:

	Years Ended December 31,
	2011		2010		2009
	(in thousands)
Net loss (gain) on sales of real estatetr	$	471	$	63	$	(15	)
Provision for losses (direct writedowns)		942		1,379		695
Operating expenses, net of income*		477		392		463
Total Expenses	$	1,890	$	1,834	$	1,143

* included in other operating income and other operating expense