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

3 Months Ended

Mar. 31, 2015

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.

	Three Months Ended March 31,		Year Ended December 31,
(dollars in thousands)	2015	2014	2014
Balance at beginning of year	$                  5,883	$                  6,797	$                  6,797
Additions of underlying property	1,556	739	2,742
Disposals of underlying property	(453)	-	(2,422)
Transfers of OREO to loans	-	-	(1,000)
Valuation allowance	(125)	(82)	(234)
Balance at end of period	$                  6,861	$                  7,454	$                  5,883

Foreclosed Real Estate Expenses

Expenses applicable to OREO assets include the following.

	Three Months Ended March 31,
(dollars in thousands)	2015	2014
Valuation allowance	$                      125	$                        82
Operating expenses	94	47
	$                      219	$                      129