| Period-end other real estate owned |
Other real estate owned was as follows (dollars in thousands):
| |
|
|
|
|
|
|
Beginning balance |
|
$ |
43,071 |
|
|
$ |
53,501 |
|
|
$ |
53,501 |
|
Additions, transfers from loans |
|
|
1,442 |
|
|
|
4,932 |
|
|
|
2,274 |
|
Proceeds from sales of other real estate owned |
|
|
(2,962 |
) |
|
|
(12,487 |
) |
|
|
(7,362 |
) |
Valuation allowance reversal upon sale |
|
|
(427 |
) |
|
|
(3,499 |
) |
|
|
(2,564 |
) |
Gain (loss) on sale of other real estate owned |
|
|
205 |
|
|
|
624 |
|
|
|
476 |
|
| |
|
|
41,329 |
|
|
|
43,071 |
|
|
|
46,325 |
|
Less: valuation allowance |
|
|
(15,026 |
) |
|
|
(14,829 |
) |
|
|
(14,802 |
) |
Ending balance |
|
$ |
26,303 |
|
|
$ |
28,242 |
|
|
$ |
31,523 |
|
|
| Activity in valuation allowance |
Activity in the valuation allowance was as follows (dollars in thousands):
| |
|
|
|
|
Beginning balance |
|
$ |
14,829 |
|
|
$ |
16,705 |
|
Additions charged to expense |
|
|
624 |
|
|
|
661 |
|
Reversals upon sale |
|
|
(427 |
) |
|
|
(2,564 |
) |
Ending balance |
|
$ |
15,026 |
|
|
$ |
14,802 |
|
|