Annual report pursuant to Section 13 and 15(d)

FORECLOSED PROPERTIES

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FORECLOSED PROPERTIES
 12 Months Ended
Dec. 31, 2013
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 (in thousands) for the years ended December 31, 2013, 2012 and 2011 follows:
 
 
 
2013
 
2012
 
2011
 
Balance at beginning of year
 
$
9,685
 
$
12,275
 
$
6,966
 
Transfers from loans and capitalized expenses
 
 
11,244
 
 
2,695
 
 
9,029
 
Foreclosed properties sold
 
 
(7,664)
 
 
(2,967)
 
 
(3,334)
 
Writedowns and partial liquidations
 
 
(593)
 
 
(2,318)
 
 
(386)
 
Balance at end of year
 
$
12,672
 
$
9,685
 
$
12,275