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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2013
Real Estate [Abstract]  
Other Real Estate Owned
OTHER REAL ESTATE OWNED
 
The Company had $190,000 in other real estate owned (OREO) at December 31, 2013 as compared to none at December 31, 2012. The table below provides a summary of the change in other real estate owned (OREO) balances for the years ended December 31, 2013 and 2012 (in thousands):
 
 
December 31,
 
 
2013
 
2012
Balance, beginning of year
 
$
—

 
$
—

Additions
 
453

 
2,337

Dispositions
 
(263
)
 
(2,349
)
Write-downs
 
—

 
—

Net gain on disposition
 
—

 
12

Balance, end of year
 
$
190

 
$
—



As of December 31, 2013 the Bank had $190,000 in OREO properties. In 2013, the Bank foreclosed on one property collateralized by real estate. During the year ended December 31, 2013, the Bank assumed two properties via the Visalia Community Bank acquisition which were subsequently sold by year end 2013. Proceeds from OREO sales totaled $263,000 during 2013. The Company did not realize any gain or loss from the sale of all properties.
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. The Bank received income of $90,000 during 2012 from operations of storage facilities held as OREO.