Quarterly report pursuant to Section 13 or 15(d)

OTHER REAL ESTATE OWNED (Tables)

v2.4.0.6
OTHER REAL ESTATE OWNED (Tables)
 6 Months Ended
Jun. 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):
 
 
 
Six
Months Ended
June 30,
2012
 
 
Year
Ended
December 31,
2011
 
 
Six
Months Ended
June 30,
2011
 
 
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
83,663
 
 
$
68,388
 
 
$
68,388
 
Additions, transfers from loans and fixed assets
 
 
7,725
 
 
 
38,358
 
 
 
23,384
 
Proceeds from sales of other real estate owned
 
 
(8,587
)
 
 
(21,540
)
 
 
(11,330
)
Valuation allowance reversal upon sale
 
 
(1,998
)
 
 
(3,058
)
 
 
(1,730
)
Gain (loss) on sale of other real estate owned
 
 
20
 
 
 
1,515
 
 
745
 
 
 
80,823
 
 
 
83,663
 
 
 
79,457
 
Less: valuation allowance
 
 
(18,777
)
 
 
(17,225
)
 
 
(14,025
)
Ending balance
 
$
62,046
 
 
$
66,438
 
 
$
65,432
 
Activity in valuation allowance
Activity in the valuation allowance for other real estate owned was as follows (dollars in thousands):

 
 
Three Months
Ended
June 30,
2012
Three Months
Ended
June 30,
2011
 
Six Months
Ended
June 30,
2012
 
 
Six Months
Ended
June 30,
2011
 
Beginning balance
 
$
17,452
$
12,020
 
$
17,225
 
 
$
10,404
 
Additions charged to expense
 
 
1,860
 
2,653
 
 
3,550
 
 
 
5,351
 
Reversals upon sale
 
 
(535
)
 
(648
)
 
 
(1,998
)
 
 
(1,730
)
Ending balance
$
18,777
$
14,025
$
18,777
$
14,025