XML 91 R15.htm IDEA: XBRL DOCUMENT v2.4.1.9
Other Real Estate Owned
 12 Months Ended
Dec. 31, 2014
Real Estate [Abstract]  
Other Real Estate Owned
OTHER REAL ESTATE OWNED
 
The Company had no other real estate owned (OREO) at December 31, 2014 as compared to $190,000 at December 31, 2013. The table below provides a summary of the change in other real estate owned (OREO) balances for the years ended December 31, 2014 and 2013 (in thousands):
 
 
December 31,
 
 
2014

2013
Balance, beginning of year
 
$
190

 
$
—

Additions
 
235

 
453

Dispositions
 
(488
)
 
(263
)
Write-downs
 
—

 
—

Net gain on dispositions
 
63

 
—

Balance, end of year
 
$
—

 
$
190



As of December 31, 2014 the Bank had no OREO properties. In 2014, the Bank foreclosed on one property collateralized by real estate. Proceeds from OREO sales totaled $488,000 during 2014. The Company realized $63,000 in net gains from the sale of all properties.
As of December 31, 2013 the Bank had $190,000 OREO properties. In 2013, the Bank foreclosed on one property collateralized by real estate. During the year ended December 31, 2013, the Bank acquired two properties through the Visalia Community Bank acquisition which were subsequently sold by year end 2013.