Other Real Estate Owned (Tables)

3 Months Ended

Mar. 31, 2023

Other Real Estate Owned [Abstract]

Activity for Other Real Estate Owned

Activity for other real estate owned was as follows:

	Three Months Ended
	March 31
(in thousands)	2023			2022
Beginning balance of other real estate owned	$	3,671		$	3,486
New assets acquired		51			137
Fair value adjustments		(81	)		(246	)
Sale of assets		(865	)		(1,078	)
Ending balance of other real estate owned	$	2,776		$	2,299

Major Classifications of Foreclosed Properties

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

(in thousands)	March 31 2023		December 31 2022
1-4 family	$	743	$	859
Construction/land development/other		687		867
Non-farm/non-residential		1,346		1,945
Total foreclosed properties	$	2,776	$	3,671