Other Real Estate Owned

3 Months Ended

Mar. 31, 2018

Other Real Estate Owned [Abstract]

Other Real Estate Owned

Note 6 – Other Real Estate Owned

Activity for other real estate owned was as follows:

(in thousands)	March 31, 2018			March 31, 2017
Beginning balance of other real estate owned	$	31,996		$	35,856
New assets acquired		1,284			1,004
Fair value adjustments		(467	)		(538	)
Sale of assets		(809	)		(510	)
Ending balance of other real estate owned	$	32,004		$	35,812

Carrying costs and fair value adjustments associated with foreclosed properties for each of the three months ended March 31, 2018 and 2017 were $0.9 million.  Included in other real estate owned at March 31, 2017 was the Campbellsville First Street branch for $0.1 million which was not acquired through foreclosure.

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

(in thousands)	March 31 2018		December 31 2017
1-4 family	$	5,965	$	5,908
Agricultural/farmland		51		68
Construction/land development/other		16,368		16,158
Multifamily		108		176
Non-farm/non-residential		9,512		9,686
Total foreclosed properties	$	32,004	$	31,996