Other Real Estate Owned (Tables)

3 Months Ended

Mar. 31, 2021

Other Real Estate Owned [Abstract]

Activity for Other Real Estate Owned

Activity for other real estate owned was as follows:

	Three Months Ended March 31
(in thousands)	2021			2020
Beginning balance of other real estate owned	$	7,694		$	19,480
New assets acquired		(170	)		1,625
Fair value adjustments		(154	)		(458	)
Sale of assets		(1,146	)		(831	)
Ending balance of other real estate owned	$	6,224		$	19,816

Major Classifications of Foreclosed Properties

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

(in thousands)	March 31 2021		December 31 2020
1-4 family	$	1,277	$	1,888
Construction/land development/other		616		1,069
Multifamily		88		88
Non-farm/non-residential		4,243		4,649
Total foreclosed properties	$	6,224	$	7,694