Other Real Estate Owned (Tables)

12 Months Ended

Dec. 31, 2020

Other Real Estate Owned [Abstract]

Activity for 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

Major Classifications of Foreclosed Properties

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