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OREO and Other Repossessed Assets
 12 Months Ended
Sep. 30, 2014
Other Real Estate, Foreclosed Assets, and Repossessed Assets [Abstract]  
OREO and Other Repossessed Assets
OREO and Other Repossessed Assets

The following table presents the activity related to OREO and other repossessed assets for the years ended September 30, 2014 and 2013 (dollars in thousands):

 
2014
 
2013
 
Amount

 
Number

 

Amount

 
Number

Balance, beginning of year
$
11,720

 
47

 
$
13,302

 
56

Additions to OREO and other repossessed assets
6,108

 
29

 
6,375

 
25

Capitalized improvements
47

 
—

 
146

 
—

Lower of cost or estimated fair value losses
(605
)
 
—

 
(2,064
)
 
—

Disposition of OREO and other repossessed assets
(8,178
)
 
(36
)
 
(6,039
)
 
(34
)
 
 
 
 
 
 
 
 
Balance, end of year
$
9,092

 
40

 
$
11,720

 
47



At September 30, 2014, OREO and other repossessed assets consisted of 40 properties in Washington, with balances ranging from $6,000 to $1,203,000.  At September 30, 2013, OREO consisted of 47 properties in Washington, with balances ranging from $4,000 to $1,301,000.  The Company recorded net gains on sale of OREO and other repossessed assets of $169,000 and $264,000 for the years ended September 30, 2014 and 2013, respectively. The Company recorded net losses on sales of OREO and other repossessed assets of $373,000 for the year ended September 30, 2012. Gains and losses on sales of OREO and other repossessed assets are recorded in the OREO and other repossessed assets, net category in non-interest expense in the accompanying consolidated statements of income.