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Other Real Estate Owned
3 Months Ended
Mar. 31, 2012
Notes to Financial Statements [Abstract]  
Other Real Estate Owned
Note 6 - Other Real Estate Owned

Activity for other real estate owned during the three months ended March 31, 2012 and 2011 was as follows:

(in thousands)
 
2012
  
2011
 
Beginning balance of other real estate owned
 $56,965  $42,935 
New assets acquired
  5,370   6,321 
Capitalized costs
  90   13 
Fair value adjustments
  (179)  (418)
Sale of assets
  (3,092)  (1,184)
Ending balance of other real estate owned
 $59,154  $47,667 
 
Foreclosed properties at March 31, 2012 and 2011 were $58.6 million and $47.7 million, respectively.  Also included in other real estate owned are two properties totaling $0.6 million which were not acquired through foreclosure.  Carrying costs and fair value adjustments associated with foreclosed properties at March 31, 2012, 2011, and 2010 respectively were $0.79 million, $0.85 million, and $0.87 million.