Other Real Estate Owned

6 Months Ended

Jun. 30, 2016

Other Real Estate Owned [Abstract]

Other Real Estate Owned

Note 6 – Other Real Estate Owned

Activity for other real estate owned was as follows:

	Three Months Ended						Six Months Ended
	June 30						June 30
(in thousands)	2016			2015			2016			2015
Beginning balance of other real estate owned	$	38,985		$	38,735		$	40,674		$	36,776
New assets acquired		1,960			691			3,251			6,261
Capitalized costs		0			0			0			85
Fair value adjustments		(91	)		(299	)		(224	)		(363	)
Sale of assets		(3,114	)		(2,429	)		(5,961	)		(6,061	)
Ending balance of other real estate owned	$	37,740		$	36,698		$	37,740		$	36,698

Carrying costs and fair value adjustments associated with foreclosed properties for the three months ended June 30, 2016 and 2015 were $0.5 million and $0.8 million, respectively.  Carrying costs and fair value adjustments associated with foreclosed properties for the six months ended June 30, 2016 and 2015 were $1.0 million and $1.2 million.

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

(in thousands)	June 30 2016		December 31 2015
1-4 family	$	6,707	$	7,493
Agricultural/farmland		116		116
Construction/land development/other		21,294		22,570
Multifamily		370		833
Non-farm/non-residential		9,253		9,662
Total foreclosed properties	$	37,740	$	40,674