Other Real Estate Owned

12 Months Ended

Dec. 31, 2013

Real Estate Owned, Disclosure of Detailed Components [Abstract]

Other Real Estate Owned

OREO

OREO properties acquired through foreclosure or deed-in-lieu of foreclosure are recorded at the fair value of the real estate, less estimated costs to sell. Any write-down of the recorded investment in the related loan is charged to the allowance for loan losses upon transfer to OREO. Subsequent write-downs required for declines in value are recorded through a valuation allowance and charged to other non-interest expense. During 2013, the Company consolidated two branches in Lewiston, Maine and transferred one of those branches to OREO at fair value, less estimated costs to sell, of $305,000. Also during 2013, the Company sold one of its branch facilities that was carried within OREO at fair value, less estimated costs to sell, of $360,000 at December 31, 2012 and recorded a gain of $27,000. The Company recorded a net gain of $40,000 on the sale of OREO properties in 2013, including the $27,000 gain on sale of one of its branch facilities. In 2012 and 2011, the Company recorded a net loss on the sale of OREO properties of $318,000 and $119,000, respectively. The gain or loss recorded on sale of OREO properties is presented within other real estate owned and collection costs on the consolidated statements of income.

The activity in OREO for the years presented below was as follows:

	2013			2012			2011
Balance at beginning of year	$	1,313		$	1,682		$	2,387
Additions	1,958			2,180			1,989
Disposals	(906		)	(2,388		)	(2,506		)
Write-downs	(170		)	(161		)	(188		)
Balance at end of year	$	2,195		$	1,313		$	1,682