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Other Real Estate Owned (Tables) | 12 Months Ended
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Dec. 31, 2022
Other Real Estate Owned [Abstract] |
Activity for Other Real Estate Owned | Activity for other real estate owned was as follows:
(in thousands) |  | 2022 |  |  | 2021 |
Beginning balance of other real estate owned |  | $ | 3,486 |  |  | $ | 7,694 |
New assets acquired |  |  | 2,433 |  |  |  | 1,166 |
Capitalized costs |  |  | 73 |  |  |  | 0 |
Fair value adjustments |  |  | (285 | ) |  |  | (857 | )
Sale of assets |  |  | (2,036 | ) |  |  | (4,517 | )
Ending balance of other real estate owned |  | $ | 3,671 |  |  | $ | 3,486 |
Major Classifications of Foreclosed Properties | The major classifications of foreclosed properties are shown in the following table:
(in thousands) December 31 |  | 2022 |  |  | 2021 |
1-4 family |  | $ | 859 |  |  | $ | 1,130 |
Construction/land development/other |  |  | 867 |  |  |  | 480 |
Multifamily |  |  | 0 |  |  |  | 88 |
Non-farm/non-residential |  |  | 1,945 |  |  |  | 1,788 |
Total foreclosed properties |  | $ | 3,671 |  |  | $ | 3,486 |

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- Definition Tabular disclosure of major classifications of foreclosed properties. + References No definition available. + Details
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- Definition Tabular disclosure of the change in other real estate on properties owned. Excludes real estate assets taken in settlement of troubled loans through surrender or foreclosure by banks. + References No definition available. + Details
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