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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2020
Other Real Estate Owned [Abstract]  
Other Real Estate Owned
8.  Other Real Estate Owned


Activity for other real estate owned was as follows:

(in thousands)
  
2020
    
2019
  
Beginning balance of other real estate owned
  
$
19,480
    
$
27,273
  
New assets acquired
    
4,446
      
3,384
  
Fair value adjustments
    
(1,454
)
    
(4,253
)
Sale of assets
    
(14,778
)
    
(6,924
)
Ending balance of other real estate owned
  
$
7,694
    
$
19,480
  


Carrying costs and fair value adjustments associated with foreclosed properties were $2.7 million, $5.5 million, and $4.3 million for 2020, 2019, and 2018, 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
  
2020
    
2019
  
1-4 family
  
$
1,888
    
$
3,630
  
Construction/land development/other
    
1,069
      
10,211
  
Multifamily
    
88
      
88
  
Non-farm/non-residential
    
4,649
      
5,551
  
Total foreclosed properties
  
$
7,694
    
$
19,480