Real Estate and Other Assets Acquired in Settlement of Loans (Tables)

9 Months Ended

Sep. 30, 2013

Real Estate and Other Assets Acquired in Settlement of Loans

Summary of real estate and other assets acquired in settlement of loans

	September 30,			December 31,
(in thousands)	2013			2012
Commercial	$	0		$	329
Real estate construction - residential	126			112
Real estate construction - commercial	10,028			13,392
Real estate mortgage - residential	908			1,227
Real estate mortgage - commercial	9,354			14,201
Repossessed assets	204			468
Total	$	20,620		$	29,729
Less valuation allowance for other real estate owned	(4,752		)	(6,137		)
Total other real estate owned and foreclosed assets	$	15,868		$	23,592

Schedule of real estate acquired in settlement of loans

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2013			2012			2013			2012
Balance at beginning of period	$	21,977		$	29,057		$	29,729		$	22,997
Additions	308			7,018			3,278			16,329
Proceeds from sales	(1,348		)	(2,469		)	(7,581		)	(5,553		)
Charge-offs against the valuation allowance for other real estate owned, net	(93		)	(1,075		)	(4,416		)	(1,318		)
Repossessed assets impairment write-downs	(39		)	0			(239		)	0
Net (loss) gain on sales	(185		)	144			(151		)	220
Total other real estate owned and repossessed assets	$	20,620		$	32,675		$	20,620		$	32,675
Less valuation allowance for other real estate owned	(4,752		)	(7,480		)	(4,752		)	(7,480		)
Balance at end of period	$	15,868		$	25,195		$	15,868		$	25,195

Summary of activity in valuation allowance for other real estate owned in settlement of loans

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in thousands)	2013			2012			2013			2012
Balance, beginning of year	$	3,999		$	7,474		$	6,137		$	6,977
Provision for other real estate owned	846			1,081			3,031			1,821
Charge-offs	(93		)	(1,075		)	(4,416		)	(1,318		)
Balance, end of year	$	4,752		$	7,480		$	4,752		$	7,480