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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2016
Other Real Estate Owned [Abstract]  
Other Real Estate Owned
9.  Other Real Estate Owned

Activity for other real estate owned was as follows:

(in thousands)
 
2016
  
2015
 
Beginning balance of other real estate owned
 
$
40,674
  
$
36,776
 
New assets acquired
  
5,900
   
18,850
 
Capitalized costs
  
0
   
85
 
Fair value adjustments
  
(1,214
)
  
(1,656
)
Sale of assets
  
(9,504
)
  
(13,381
)
Ending balance of other real estate owned
 
$
35,856
  
$
40,674
 

Carrying costs and fair value adjustments associated with foreclosed properties were $2.9 million, $3.5 million, and $3.9 million for 2016, 2015, and 2014, 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
 
2016
  
2015
 
1-4 family
 
$
6,210
  
$
7,493
 
Agricultural/farmland
  
93
   
116
 
Construction/land development/other
  
20,778
   
22,570
 
Multifamily
  
270
   
833
 
Non-farm/non-residential
  
8,505
   
9,662
 
Total foreclosed properties
 
$
35,856
  
$
40,674