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Other Real Estate Owned (Tables) | 6 Months Ended
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Jun. 30, 2024
Other Real Estate Owned [Abstract] |
Activity for Other Real Estate Owned | Activity for other real estate owned was as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30 |  |  | June 30 |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Beginning balance of other real estate owned |  | $ | 1,266 |  |  | $ | 2,776 |  |  | $ | 1,616 |  |  | $ | 3,671 |
New assets acquired |  |  | 443 |  |  |  | 124 |  |  |  | 474 |  |  |  | 175 |
Capitalized costs |  |  | 0 |  |  |  | 40 |  |  |  | 12 |  |  |  | 40 |
Fair value adjustments |  |  | (7 | ) |  |  | (25 | ) |  |  | (49 | ) |  |  | (106 | )
Sale of assets |  |  | (76 | ) |  |  | (868 | ) |  |  | (427 | ) |  |  | (1,733 | )
Ending balance of other real estate owned |  | $ | 1,626 |  |  | $ | 2,047 |  |  | $ | 1,626 |  |  | $ | 2,047 |
Major Classifications of Foreclosed Properties | The major classifications of foreclosed properties are shown in the following table:
(in thousands) |  | June 30 2024 |  |  | December 31 2023 |
1-4 family |  | $ | 834 |  |  | $ | 827 |
Construction/land development/other |  |  | 416 |  |  |  | 383 |
Non-farm/non-residential |  |  | 376 |  |  |  | 406 |
Total foreclosed properties |  | $ | 1,626 |  |  | $ | 1,616 |

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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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