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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2014
Real Estate Owned, Disclosure of Detailed Components [Abstract]  
Other Real Estate Owned
Other Real Estate Owned

The following summarizes other real estate owned:

As of  December 31,
2014
 
2013
Real estate acquired in settlement of loans
$
3,785,000

 
$
4,807,000



Changes in the allowance for losses from other real estate owned were as follows:

For the years ended December 31,
2014
 
2013
 
2012
Balance at beginning of year
$
330,000

 
$
373,000

 
$
436,000

Losses charged to allowance
(313,000
)
 
(544,000
)
 
(460,000
)
Provision charged to operating expenses
637,000

 
501,000

 
397,000

Balance at end of year
$
654,000

 
$
330,000

 
$
373,000