| Period-end other real estate owned |
Other real estate owned was as follows (dollars in thousands):
|
|
Six
Months Ended
June 30,
2013
|
|
|
Year
Ended
December 31,
2012
|
|
|
Six
Months Ended
June 30,
2012
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
|
$ |
69,743 |
|
|
$ |
83,663 |
|
|
$ |
83,663 |
|
Additions, transfers from loans and fixed assets |
|
|
2,754 |
|
|
|
9,168 |
|
|
|
7,725 |
|
Proceeds from sales of other real estate owned |
|
|
(8,138 |
) |
|
|
(18,729 |
) |
|
|
(8,587 |
) |
Valuation allowance reversal upon sale |
|
|
(2,308 |
) |
|
|
(4,300 |
) |
|
|
(1,998 |
) |
Gain (loss) on sale of other real estate owned |
|
|
614 |
|
|
|
(59 |
) |
|
|
20 |
|
|
|
|
62,665 |
|
|
|
69,743 |
|
|
|
80,823 |
|
Less: valuation allowance |
|
|
(16,820 |
) |
|
|
(18,161 |
) |
|
|
(18,777 |
) |
Ending balance |
|
$ |
45,845 |
|
|
$ |
51,582 |
|
|
$ |
62,046 |
|
|
| Activity in valuation allowance |
Activity in the valuation allowance was as follows (dollars in thousands):
|
|
Six Months
Ended
June 30,
2013
|
|
|
Six Months
Ended
June 30,
2012
|
|
Beginning balance |
|
$ |
18,161 |
|
|
$ |
17,225 |
|
Additions charged to expense |
|
|
967 |
|
|
|
3,550 |
|
Reversals upon sale |
|
|
(2,308 |
) |
|
|
(1,998 |
) |
Ending balance |
|
$ |
16,820 |
|
|
$ |
18,777 |
|
|