Other real estate owned with a cost basis of $0.5 million and $2.9 million was sold during the years ended December 31, 2016 and 2015, respectively, resulting in a net gain of $13,000 and a net loss of $0.1 million for the respective period, compared to a cost basis of $1.3 million and a net gain of $0.2 million at December 31, 2014.