Other Real Estate Owned (Tables)

3 Months Ended

Mar. 31, 2022

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)	2022			2021
Beginning balance of other real estate owned	$	3,486		$	7,694
New assets acquired		137			(170	)
Fair value adjustments		(246	)		(154	)
Sale of assets		(1,078	)		(1,146	)
Ending balance of other real estate owned	$	2,299		$	6,224

Major Classifications of Foreclosed Properties

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

(in thousands)	March 31 2022		December 31 2021
1-4 family	$	940	$	1,130
Construction/land development/other		465		480
Multifamily		0		88
Non-farm/non-residential		894		1,788
Total foreclosed properties	$	2,299	$	3,486