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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2012
Real Estate [Abstract]  
Other Real Estate Owned
OTHER REAL ESTATE OWNED
 
The Company had no other real estate owned (OREO) at December 31, 2012 and 2011. The table below provides a summary of the change in other real estate owned (OREO) balances for the years ended December 31, 2012 and 2011.

 
December 31,
(In thousands)
 
2012
 
2011
Balance, Beginning of year
 
$
—

 
$
1,325

Additions
 
2,337

 
532

Dispositions
 
(2,349
)
 
(2,472
)
Write-downs
 
—

 
—

Net gain on disposition
 
12

 
615

Balance, End of year
 
$
—

 
$
—



As of December 31, 2012 the Bank had no OREO properties. In 2012, the Bank foreclosed on six properties with net realizable values totaling $2,337,000 and sold them for a net gain of $12,000. Two of the properties the Bank foreclosed on were mini storage facilities which were collateralized by real estate with net realizable values totaling $2,098,000. The Company realized losses of $6,000 on the sale of the properties. The Bank received income of $90,000 during 2012 from operations of the storage facilities.
As of December 31, 2011 the Bank had no OREO properties. In 2011, the Bank foreclosed on three properties collateralized by real estate. During the year ended December 31, 2011, the remaining 12 units of the medical office condominium projects held at the end of 2010 along with the three other properties were sold. Proceeds from OREO sales totaled $2,472,000 during 2011. The Company realized a $615,000 net recovery from the sale of all units.