Other Real Estate Owned

3 Months Ended

Mar. 31, 2013

Other Real Estate Owned

Other Real Estate Owned

Note 8—Other Real Estate Owned

The following is a summary of information pertaining to OREO at March 31, 2013:

(Dollars in thousands)	OREO			Covered OREO			Total
Balance, December 31, 2012	$	32,248		$	34,257		$	66,505
Additions	10,542			6,186			16,728
Write-downs	(1,599		)	(971		)	(2,570		)
Sold	(4,745		)	(5,228		)	(9,973		)
Balance, March 31, 2013	$	36,446		$	34,244		$	70,690

The following is a summary of information pertaining to OREO at March 31, 2012:

(Dollars in thousands)	OREO			Covered OREO			Total
Balance, December 31, 2011	$	18,022		$	65,849		$	83,871
Additions	7,569			14,491			22,060
Write-downs	(1,288		)	(7,255		)	(8,543		)
Sold	(2,922		)	(11,297		)	(14,219		)
Balance, March 31, 2012	$	21,381		$	61,788		$	83,169

The covered OREO above is covered pursuant to the FDIC loss share agreements and is presented net of the related fair value discount.  At March 31, 2013, there were 403 properties included in OREO, with 172 uncovered and 231 covered by loss share agreement with the FDIC.  At March 31, 2012, there were 856 properties in OREO, with 92 uncovered and 764 covered by loss share agreement with the FDIC. The increase in uncovered OREO is primarily the result of the acquisition of Peoples and Savannah.