Other Real Estate Owned (Tables)

3 Months Ended

Mar. 31, 2015

Other Real Estate Owned [Abstract]

Schedule of Real Estate Properties

The following table presents the components of Other Real Estate Owned (“OREO”) as of March 31, 2015 and December 31, 2014:

(in thousands)	March 31, 2015		December 31, 2014
Commercial real estate	$	1,956	$	1,772
Acquisition and development		8,722		9,263
Residential mortgage		1,803		1,897
Total OREO	$	12,481	$	12,932

Other Real Estate, Roll Forward

The following table presents the activity in the OREO valuation allowance for the three-month periods ended March 31, 2015 and 2014:

	For the Three Months Ended
	March 31,
(in thousands)	2015		2014
Balance January 1	$	3,440	$	4,047
Fair value write-down		506		371
Sales of OREO		(181)		(748)
Balance at end of period	$	3,765	$	3,670

Schedule of Components of Other Real Estate Owned Expense

The following table presents the components of OREO expenses, net for the three-month periods ended March 31, 2015 and 2014:

	For the Three Months Ended
	March 31,
(in thousands)	2015		2014
Gains on real estate, net	$	(27)	$	(25)
Fair value write-down, net		506		371
Expenses, net		207		188
Rental and other income		(54)		(77)
Total OREO expense, net	$	632	$	457