OTHER REAL ESTATE OWNED

12 Months Ended

Dec. 31, 2015

Real Estate Owned, Disclosure of Detailed Components [Abstract]

OTHER REAL ESTATE OWNED

7. OTHER REAL ESTATE OWNED

The following table summarizes the activity in the other real estate owned at December 31, 2015 and December 31, 2014.

	December 31, 2015		December 31, 2014
Balance, beginning of year	$	521,943	$	—
Additions-foreclosure		98,541		557,416
Sales		—		35,473
Write-downs		—		—
Balance, end of year	$	620,394	$	521,943

At December 31, 2015, we had two properties with an aggregate balance of $620,394 classified as OREO. We had one property valued at $521,943 classified as OREO at December 31, 2014. Another property valued at $35,473 classified as OREO during 2014, was ultimately sold at a gain of $2,382.