Other Real Estate Owned (Tables)

12 Months Ended

Dec. 31, 2023

Other Real Estate Owned [Abstract]

Activity for Other Real Estate Owned

Activity for other real estate owned was as follows:

(in thousands)	2023			2022
Beginning balance of other real estate owned	$	3,671		$	3,486
New assets acquired		658			2,433
Capitalized costs		47			73
Fair value adjustments		(211	)		(285	)
Sale of assets		(2,549	)		(2,036	)
Ending balance of other real estate owned	$	1,616		$	3,671

Major Classifications of Foreclosed Properties

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

(in thousands) December 31	2023		2022
1-4 family	$	827	$	859
Construction/land development/other		383		867
Multifamily		0		0
Non-farm/non-residential		406		1,945
Total foreclosed properties	$	1,616	$	3,671