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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2022
Other Real Estate Owned [Abstract]  
Other Real Estate Owned
8.  Other Real Estate Owned


Activity for other real estate owned was as follows:

(in thousands)
  
2022
    
2021
  
Beginning balance of other real estate owned
  
$
3,486
    
$
7,694
  
New assets acquired
    
2,433
      
1,166
  
Capitalized costs
     73       0  
Fair value adjustments
    
(285
)
    
(857
)
Sale of assets
    
(2,036
)
    
(4,517
)
Ending balance of other real estate owned
  
$
3,671
    
$
3,486
  


Carrying costs and fair value adjustments associated with foreclosed properties were $0.5 million, $1.4 million, and $2.7 million for 2022, 2021, and 2020, respectively.  See note 1 for a description of our accounting policies relative to foreclosed properties and other real estate owned.


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

(in thousands)
December 31
  
2022
    
2021
  
1-4 family
  
$
859
    
$
1,130
  
Construction/land development/other
    
867
      
480
  
Multifamily
    
0
      
88
  
Non-farm/non-residential
    
1,945
      
1,788
  
Total foreclosed properties
  
$
3,671
    
$
3,486