Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED (Tables)

v2.4.0.6
OTHER REAL ESTATE OWNED (Tables)
 9 Months Ended
Sep. 30, 2012
OTHER REAL ESTATE OWNED [Abstract]  
Period-end other real estate owned
Period-end other real estate owned was as follows (dollars in thousands):
 
 
Nine
Months Ended
September 30,
2012
 
 
Year
Ended
December 31,
2011
 
 
Nine
Months Ended
September 30,
2011
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
83,663
 
 
$
68,388
 
 
$
68,388
 
Additions, transfers from loans
 
 
9,002
 
 
 
38,358
 
 
 
32,015
 
Proceeds from sales of other real estate owned
 
 
(13,426
)
 
 
(21,540
)
 
 
(16,370
)
Valuation allowance reversal upon sale
 
 
(2,962
)
 
 
(3,058
)
 
 
(2,031
)
Gain on sale of other real estate owned
 
 
11
 
 
 
1,515
 
 
1,191
 
 
76,288
 
 
 
83,663
 
 
 
83,193
 
Less: valuation allowance
 
 
(18,510
)
 
 
(17,225
)
 
 
(16,709
)
Ending balance
 
$
57,778
 
 
$
66,438
 
 
$
66,484
 
Activity in valuation allowance
Activity in the valuation allowance for other real estate owned was as follows (dollars in thousands):
 
Three Months
Ended
September 30,
2012
Three Months
Ended
September 30,
2011
 
Nine Months
Ended
September 30,
2012
 
 
Nine Months
Ended
September 30,
2011
 
Beginning balance
 
$
18,777
$
14,025
 
$
17,225
 
 
$
10,404
 
Additions charged to expense
 
 
697
 
2,985
 
 
4,247
 
 
 
8,336
 
Reversals upon sale
 
 
(964
)
 
(301
)
 
 
(2,962
)
 
 
(2,031
)
Ending balance
$
18,510
$
16,709
$
18,510
$
16,709