XML 44 R12.htm IDEA: XBRL DOCUMENT v3.20.1
Other Real Estate Owned
 3 Months Ended
Mar. 31, 2020
Other Real Estate Owned [Abstract]  
Other Real Estate Owned
Note 5 – Other Real Estate Owned


Activity for other real estate owned was as follows:

  
Three Months Ended
March 31
  
(in thousands)
  
2020
    
2019
  
Beginning balance of other real estate owned
  
$
19,480
    
$
27,273
  
New assets acquired
    
1,625
      
854
  
Fair value adjustments
    
(458
)
    
(447
)
Sale of assets
    
(831
)
    
(2,710
)
Ending balance of other real estate owned
  
$
19,816
    
$
24,970
  


Carrying costs and fair value adjustments associated with foreclosed properties for the three months ended March 31, 2020 and 2019 were $0.9 million and $0.8 million, 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)
  
March 31, 2020
    
December 31, 2019
  
1-4 family
  
$
4,158
    
$
3,630
  
Agricultural/farmland
    
0
      
0
  
Construction/land development/other
    
10,197
      
10,211
  
Multifamily
    
88
      
88
  
Non-farm/non-residential
    
5,373
      
5,551
  
Total foreclosed properties
  
$
19,816
    
$
19,480