Other Real Estate Owned

12 Months Ended

Dec. 31, 2016

Other Real Estate Owned

Other Real Estate Owned

Note 6—Other Real Estate Owned

The following is a summary of the changes in the carrying value of OREO:

			Covered
(Dollars in thousands)	OREO		OREO		Total
Balance, December 31, 2013	$	37,398	$	27,520	$	64,918
Additions, net		29,260		16,555		45,815
Writedowns		(4,827)		(5,858)		(10,685)
Sold		(35,332)		(21,990)		(57,322)
Balance, December 31, 2014		26,499		16,227		42,726
Transfers		2,245		(2,245)		—
Additions, net		21,419		9,283		30,702
Writedowns		(3,163)		(6,265)		(9,428)
Sold		(22,197)		(11,249)		(33,446)
Balance, December 31, 2015	$	24,803	$	5,751	$	30,554
Transfers		4,222		(4,222)		—
Additions, net		11,842		2,151		13,993
Writedowns		(2,270)		(2,131)		(4,401)
Sold		(20,281)		(1,549)		(21,830)
Balance, December 31, 2016	$	18,316	$	—	$	18,316

As noted above, on June 23, 2016, the Bank entered into an early termination agreement with the FDIC with respect to all of its outstanding loss share agreements.  The covered OREO shown above was presented net of the related fair value discount, and the activity reflected for the covered assets is prior to the early termination of the FDIC loss share agreements.  All remaining OREO previously classified as covered became uncovered during the second quarter of 2016, which consisted of 17 properties with a carrying value of $4.2 million as of March 31, 2016. 

At December 31, 2016, there were a total of 90 properties included in OREO, of which none were covered.  This compares to 138 properties included in OREO, with 118 uncovered and 20 covered by loss share agreements with the FDIC, at December 31, 2015.  At December 30, 2016, the Company had $3.6 million in residential real estate included in OREO and $5.1 million in residential real estate consumer mortgage loans in the process of foreclosure.