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Other Real Estate Owned (Tables) | 9 Months Ended
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Sep. 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 |  |  | Nine Months Ended |
|  | September 30 |  |  | September 30 |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Beginning balance of other real estate owned |  | $ | 1,626 |  |  | $ | 2,047 |  |  | $ | 1,616 |  |  | $ | 3,671 |
New assets acquired |  |  | 14 |  |  |  | 325 |  |  |  | 488 |  |  |  | 500 |
Capitalized costs |  |  | 0 |  |  |  | 7 |  |  |  | 13 |  |  |  | 46 |
Fair value adjustments |  |  | 0 |  |  |  | (124 | ) |  |  | (49 | ) |  |  | (230 | )
Sale of assets |  |  | (296 | ) |  |  | (80 | ) |  |  | (724 | ) |  |  | (1,812 | )
Ending balance of other real estate owned |  | $ | 1,344 |  |  | $ | 2,175 |  |  | $ | 1,344 |  |  | $ | 2,175 |
Major Classifications of Foreclosed Properties | The major classifications of foreclosed properties are shown in the following table:
(in thousands) |  | September 30 2024 |  |  | December 31 2023 |
1-4 family |  | $ | 574 |  |  | $ | 827 |
Construction/land development/other |  |  | 394 |  |  |  | 383 |
Non-farm/non-residential |  |  | 376 |  |  |  | 406 |
Total foreclosed properties |  | $ | 1,344 |  |  | $ | 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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