Other real estate owned with a cost basis of $2.9 million and $1.3 million was sold during the years ended December 31, 2015 and 2014, respectively, resulting in a net loss of $0.1 million and a net gain of $0.2 million for the respective period, compared to a cost basis of $1.6 million and a net gain of $0.1 million at December 31, 2013.