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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2017
Other Real Estate Owned [Abstract]  
Other Real Estate Owned
9.  Other Real Estate Owned

Activity for other real estate owned was as follows:

(in thousands)
 
2017
  
2016
 
Beginning balance of other real estate owned
 
$
35,856
  
$
40,674
 
New assets acquired
  
5,382
   
5,900
 
Fair value adjustments
  
(3,034
)
  
(1,214
)
Sale of assets
  
(6,208
)
  
(9,504
)
Ending balance of other real estate owned
 
$
31,996
  
$
35,856
 

Carrying costs and fair value adjustments associated with foreclosed properties were $4.5 million, $2.9 million, and $3.5 million for 2017, 2016, and 2015, respectively.  See note 1 for a description of our accounting policies relative to foreclosed properties and other real estate owned.  Included in the sale of assets above was the disposal of a $0.1 million property which was not acquired through foreclosure.  As a result of the relocation of our Campbellsville First Street branch to the Bypass location in 2017, the First Street property was listed for sale and booked into other real estate owned.

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

(in thousands)
December 31
 
2017
  
2016
 
1-4 family
 
$
5,908
  
$
6,210
 
Agricultural/farmland
  
68
   
93
 
Construction/land development/other
  
16,158
   
20,778
 
Multifamily
  
176
   
270
 
Non-farm/non-residential
  
9,686
   
8,505
 
Total foreclosed properties
 
$
31,996
  
$
35,856