| Period-end other real estate owned |
Other real estate owned was as follows (dollars in thousands):
|
|
Nine |
|
|
Year |
|
|
Nine |
|
|
|
Months Ended |
|
|
Ended |
|
|
Months Ended |
|
|
|
September 30, |
|
|
December 31, |
|
|
September 30, |
|
|
|
2013 |
|
|
2012 |
|
|
2012 |
|
Beginning balance |
|
$ |
69,743 |
|
|
$ |
83,663 |
|
|
$ |
83,663 |
|
Additions, transfers from loans and fixed assets |
|
|
3,170 |
|
|
|
9,168 |
|
|
|
9,002 |
|
Proceeds from sales of other real estate owned |
|
|
(10,545 |
) |
|
|
(18,729 |
) |
|
|
(13,426 |
) |
Valuation allowance reversal upon sale |
|
|
(2,794 |
) |
|
|
(4,300 |
) |
|
|
(2,962 |
) |
Gain (loss) on sale of other real estate owned |
|
|
1,004 |
|
|
|
(59 |
) |
|
|
11 |
|
|
|
|
60,578 |
|
|
|
69,743 |
|
|
|
76,288 |
|
Less: valuation allowance |
|
|
(17,782 |
) |
|
|
(18,161 |
) |
|
|
(18,510 |
) |
Ending balance |
|
$ |
42,796 |
|
|
$ |
51,582 |
|
|
$ |
57,778 |
|
|
| Activity in valuation allowance |
Activity in the valuation allowance was as follows (dollars in thousands):
|
Nine Months |
|
Nine Months |
|
|
Ended |
|
Ended |
|
|
September 30, |
|
September 30, |
|
|
2013 |
|
2012 |
|
Beginning balance |
|
$ |
18,161 |
|
|
$ |
17,225 |
|
Additions charged to expense |
|
|
2,415 |
|
|
|
4,247 |
|
Reversals upon sale |
|
|
(2,794 |
) |
|
|
(2,962 |
) |
Ending balance |
|
$ |
17,782 |
|
|
$ |
18,510 |
|
|