Other Real Estate Owned ("OREO") (Tables)

9 Months Ended

Sep. 30, 2014

Other Real Estate Owned ("OREO") [Abstract]

Foreclosed Real Estate Roll Forward

OREO assets are presented net of valuation allowances. The Company considers OREO as classified assets for regulatory and financial reporting. An analysis of OREO activity follows.

	Nine Months Ended September 30,		Year Ended December 31,
(dollars in thousands)	2014	2013	2013
Balance at beginning of year	$                  6,797	$                  6,891	$                  6,891
Additions of underlying property	1,590	1,391	1,853
Disposals of underlying property	(1,819)	(722)	(1,346)
Valuation allowance	(234)	(501)	(601)
Balance at end of period	$                  6,334	$                  7,059	$                  6,797

Foreclosed Real Estate Expenses

Expenses applicable to OREO assets include the following.

	Three Months Ended September 30,		Nine Months Ended September 30,
(dollars in thousands)	2014	2013	2014	2013
Valuation allowance	$                          -	$                     171	$                     234	$                     501
Operating expenses	37	41	98	105
	$                       37	$                     212	$                     332	$                     606