Annual report pursuant to Section 13 and 15(d)

FORECLOSED PROPERTIES

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FORECLOSED PROPERTIES
 12 Months Ended
Dec. 31, 2012
Foreclosed Properties [Abstract]  
FORECLOSED PROPERTIES
NOTE 4. FORECLOSED PROPERTIES

 

Other real estate and certain other assets acquired in foreclosure are carried at the lower of the recorded investment in the loan or fair value less estimated costs to sell the property.

 

An analysis of foreclosed properties for the years ended December 31, 2012, 2011 and 2010 follows:

 

    2012     2011     2010  
Balance at beginning of year   $ 12,275     $ 6,966     $ 12,525  
Transfers from loans and capitalized expenses     2,695       9,029       5,447  
Foreclosed properties sold     (2,967 )     (3,334 )     (7,995 )
Writedowns and partial liquidations     (2,318 )     (386 )     (3,011 )
Balance at end of year   $ 9,685     $ 12,275     $ 6,966