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Other Real Estate Owned (Tables)
9 Months Ended
Sep. 30, 2024
Other Real Estate Owned [Abstract]  
Activity for Other Real Estate Owned

Activity for other real estate owned was as follows:

    Three Months Ended     Nine Months Ended  

 
September 30
   
September 30
 
(in thousands)
 
2024
   
2023
   
2024
   
2023
 
Beginning balance of other real estate owned
 
$
1,626
   
$
2,047
   
$
1,616
   
$
3,671
 
New assets acquired
   
14
     
325
     
488
     
500
 
Capitalized costs
    0       7       13       46  
Fair value adjustments
   
0
     
(124
)
   
(49
)
   
(230
)
Sale of assets
   
(296
)
   
(80
)
   
(724
)
   
(1,812
)
Ending balance of other real estate owned
 
$
1,344
   
$
2,175
   
$
1,344
   
$
2,175
 
Major Classifications of Foreclosed Properties

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

(in thousands)
 
September 30
2024
   
December 31
2023
 
1-4 family
 
$
574
   
$
827
 
Construction/land development/other
   
394
     
383
 
Non-farm/non-residential
   
376
     
406
 
Total foreclosed properties
 
$
1,344
   
$
1,616