Other Real Estate Owned ("OREO")

6 Months Ended

Jun. 30, 2013

Note 7. Other Real Estate Owned (“OREO”)

The following tables provide a summary of the quarterly change in the balance of OREO:

	Balance									Balance
	March 31,									June 30,
(dollar amounts in thousands)	2013		Additions		Disposals			Writedowns		2013
Real Estate Secured
Commercial	$	-	$	163	$	(163	)	$	-	$	-

Totals	$	-	$	163	$	(163	)	$	-	$	-

	Balance										Balance
	March 31,										June 30,
(dollar amounts in thousands)	2012		Additions		Disposals			Writedowns			2012
Real Estate Secured
Residential 1 to 4 family	$	-	$	431	$	-		$	-		$	431
Commercial	215		-		-			-			215
Construction
Single family residential - Spec.	423		-		-			(26		)	397
Tract	100		-		(100		)	-			-
Land	179		162		(300		)	(9		)	32

Totals	$	917	$	593	$	(400	)	$	(35	)	$	1,075

The following tables provide a summary of the year to date change in the balance of OREO:

	Balance									Balance
	December 31,									June 30,
(dollar amounts in thousands)	2012		Additions		Disposals			Writedowns		2013
Real Estate Secured
Commercial	$	-	$	1,374	$	(1,374	)	$	-	$	-

Totals	$	-	$	1,374	$	(1,374	)	$	-	$	-

	Balance										Balance
	December 31,										June 30,
(dollar amounts in thousands)	2011		Additions		Disposals			Writedowns			2012
Real Estate Secured
Residential 1 to 4 family	$	-	$	607	$	(176	)	$	-		$	431
Commercial	215		-		-			-			215
Construction
Single family residential - Spec.	423		-		-			(26		)	397
Tract	100		-		(100		)	-			-
Land	179		162		(300		)	(9		)	32

Totals	$	917	$	769	$	(576	)	$	(35	)	$	1,075

The Company did not realize any gains or losses related to disposal of OREO during the three or six months ended June 30, 2013.

- Definition

The entire disclosure for real estate owned (as defined). Generally, the largest component of real estate owned by lenders is assets taken in settlement of troubled loans through surrender or foreclosure. Real estate investments, real estate loans that qualify as investments in real estate, and premises that are no longer used in operations may also be included in real estate owned.

+ References

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+ Details