The following table is a summary of OREO activity for the periods indicated: | | | | | | | | | | | | | | Year Ended December 31, | | 2016 | | 2015 | | 2014 | | (In thousands) | Balance at beginning of year | $ | 3,663 |
| | $ | 9,283 |
| | $ | 11,465 |
| Loans transferred to OREO | — |
| | 141 |
| | 1,823 |
| Capitalized improvements | — |
| | — |
| | 120 |
| Gross proceeds from sale of OREO | (988 | ) | | (6,246 | ) | | (3,646 | ) | (Loss) gain on sale of OREO | (87 | ) | | 526 |
| | (86 | ) | Market value adjustments | (257 | ) | | (41 | ) | | (393 | ) | Balance at end of year | $ | 2,331 |
| | $ | 3,663 |
| | $ | 9,283 |
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