Other Real Estate Owned (Tables)

12 Months Ended

Dec. 31, 2021

Other Real Estate Owned [Abstract]

Activity for Other Real Estate Owned

Activity for other real estate owned was as follows:

(in thousands)	2021			2020
Beginning balance of other real estate owned	$	7,694		$	19,480
New assets acquired		1,166			4,446
Fair value adjustments		(857	)		(1,454	)
Sale of assets		(4,517	)		(14,778	)
Ending balance of other real estate owned	$	3,486		$	7,694

Major Classifications of Foreclosed Properties

The major classifications of foreclosed properties are shown in the following table:

(in thousands) December 31	2021		2020
1-4 family	$	1,130	$	1,888
Construction/land development/other		480		1,069
Multifamily		88		88
Non-farm/non-residential		1,788		4,649
Total foreclosed properties	$	3,486	$	7,694