Annual report pursuant to Section 13 and 15(d)

OTHER REAL ESTATE OWNED (Tables)

v3.6.0.2
OTHER REAL ESTATE OWNED (Tables)
 12 Months Ended
Dec. 31, 2016
OTHER REAL ESTATE OWNED [Abstract]  
Period-End Other Real Estate Owned
Other real estate owned was as follows (dollars in thousands):

   
2016
    
2015
    
2014
  
Beginning balance
  
$
28,377
    
$
43,071
    
$
53,501
  
Additions, transfers from loans
    
339
      
2,520
      
4,932
  
Proceeds from sales of other real estate owned
    
(5,339
)
    
(11,540
)
    
(12,487
)
Valuation allowance reversal upon sale
    
(1,158
)
    
(4,748
)
    
(3,499
)
Gain (loss) on sales of other real estate owned
    
645
      
(926
)
    
624
  
     
22,864
      
28,377
      
43,071
  
Less: valuation allowance
    
(10,611
)
    
(10,805
)
    
(14,829
)
Ending balance
  
$
12,253
    
$
17,572
    
$
28,242
  
Activity in Valuation Allowance
Activity in the valuation allowance was as follows (dollars in thousands):
 
   
2016
    
2015
    
2014
  
Beginning balance
  
$
10,805
    
$
14,829
    
$
16,705
  
Additions charged to expense
    
964
      
724
      
1,623
  
Reversals upon sale
    
(1,158
)
    
(4,748
)
    
(3,499
)
Ending balance
  
$
10,611
    
$
10,805
    
$
14,829