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Other Real Estate Owned
 12 Months Ended
Dec. 31, 2024
Other Real Estate Owned [Abstract]  
Other Real Estate Owned
8.  Other Real Estate Owned


Activity for OREO was as follows:

(in thousands)
  
2024
    
2023
  
Beginning balance of other real estate owned
  
$
1,616
    
$
3,671
  
New assets acquired
    
3,160
      
658
  
Capitalized costs
     13       47  
Fair value adjustments
    
(105
)
    
(211
)
Sale of assets
    
(1,037
)
    
(2,549
)
Ending balance of other real estate owned
  
$
3,647
    
$
1,616
  


Carrying costs and fair value adjustments associated with foreclosed properties were $0.2 million, $0.3 million, and $0.5 million for 2024, 2023, and 2022, respectively.  See note 1 for a description of our accounting policies relative to foreclosed properties and OREO.


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

(in thousands)
December 31
  
2024
    
2023
  
1-4 family
  
$
806
    
$
827
  
Construction/land development/other
    
395
      
383
  
Multifamily
    
0
      
0
  
Non-farm/non-residential
    
2,446
      
406
  
Total foreclosed properties
  
$
3,647
    
$
1,616