Macatawa Bank Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

OTHER REAL ESTATE OWNED

OTHER REAL ESTATE OWNED

12 Months Ended

Dec. 31, 2011

Other Real Estate Owned [Abstract]

OTHER REAL ESTATE OWNED

NOTE 4 – OTHER REAL ESTATE OWNED

Year-end other real estate owned was as follows (dollars in thousands):

	2011			2010

Beginning balance	$	68,388		$	41,987
Additions, transfers from loans		38,358			45,248
Proceeds from sales of other real estate owned		(21,540	)		(16,003	)
Valuation allowance reversal upon sale		(3,058	)		(2,677	)
Gain (loss) on sale of other real estate owned		1,515			(167	)
		83,663			68,388
Less: valuation allowance		(17,225	)		(10,404	)
Ending balance	$	66,438		$	57,984

Activity in the valuation allowance was as follows:

	2011			2010

Beginning balance	$	10,404		$	4,804
Additions charged to expense		9,879			8,277
Reversals upon sale		(3,058	)		(2,677	)

Ending balance	$	17,225		$	10,404

- Definition

The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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+ Details