| Period-end other real estate owned |
Other real estate owned was as follows (dollars in thousands):
|
|
Three |
|
|
Year |
|
|
Three |
|
|
|
Months Ended |
|
|
Ended |
|
|
Months Ended |
|
|
|
March 31, |
|
|
December 31, |
|
|
March 31, |
|
|
|
2014 |
|
|
2013 |
|
|
2013 |
|
Beginning balance |
|
$ |
53,501 |
|
|
$ |
69,743 |
|
|
$ |
69,743 |
|
Additions, transfers from loans and fixed assets |
|
|
554 |
|
|
|
3,539 |
|
|
|
2,271 |
|
Proceeds from sales of other real estate owned |
|
|
(3,501 |
) |
|
|
(16,501 |
) |
|
|
(2,201 |
) |
Valuation allowance reversal upon sale |
|
|
(1,948 |
) |
|
|
(4,378 |
) |
|
|
(651 |
) |
Gain (loss) on sale of other real estate owned |
|
|
484 |
|
|
|
1,098 |
|
|
|
320 |
|
|
|
|
49,090 |
|
|
|
53,501 |
|
|
|
69,482 |
|
Less: valuation allowance |
|
|
(15,055 |
) |
|
|
(16,705 |
) |
|
|
(17,889 |
) |
Ending balance |
|
$ |
34,035 |
|
|
$ |
36,796 |
|
|
$ |
51,593 |
|
|
| Activity in valuation allowance |
Activity in the valuation allowance was as follows (dollars in thousands):
|
Three Months |
|
Three Months |
|
|
Ended |
|
Ended |
|
|
March 31, |
|
March 31, |
|
|
2014 |
|
2013 |
|
Beginning balance |
|
$ |
16,705 |
|
|
$ |
18,161 |
|
Additions charged to expense |
|
|
298 |
|
|
|
379 |
|
Reversals upon sale |
|
|
(1,948 |
) |
|
|
(651 |
) |
Ending balance |
|
$ |
15,055 |
|
|
$ |
17,889 |
|
|