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LOANS
6 Months Ended
Jun. 30, 2020
LOANS  
LOANS

NOTE 3. LOANS

June 30, 

December 31, 

(dollars in thousands)

    

2020

    

2019

Commercial and industrial loans:

Working capital lines of credit loans

$

568,621

12.6

%

$

709,849

17.5

%

Non-working capital loans

1,238,556

27.5

717,019

17.6

Total commercial and industrial loans

1,807,177

40.1

1,426,868

35.1

Commercial real estate and multi-family residential loans:

Construction and land development loans

359,948

8.0

287,641

7.1

Owner occupied loans

576,213

12.8

573,665

14.1

Nonowner occupied loans

554,572

12.3

571,364

14.0

Multifamily loans

290,566

6.4

240,652

5.9

Total commercial real estate and multi-family residential loans

1,781,299

39.5

1,673,322

41.1

Agri-business and agricultural loans:

Loans secured by farmland

153,774

3.4

174,380

4.3

Loans for agricultural production

198,277

4.4

205,151

5.0

Total agri-business and agricultural loans

352,051

7.8

379,531

9.3

Other commercial loans

110,833

2.5

112,302

2.8

Total commercial loans

4,051,360

89.9

3,592,023

88.3

Consumer 1-4 family mortgage loans:

Closed end first mortgage loans

169,897

3.8

177,227

4.4

Open end and junior lien loans

174,300

3.9

186,552

4.6

Residential construction and land development loans

11,164

0.2

12,966

0.3

Total consumer 1-4 family mortgage loans

355,361

7.9

376,745

9.3

Other consumer loans

98,667

2.2

98,617

2.4

Total consumer loans

454,028

10.1

475,362

11.7

Subtotal

4,505,388

100.0

%

4,067,385

100.0

%

Less: Allowance for loan losses

(59,019)

(50,652)

Net deferred loan fees

(14,856)

(1,557)

Loans, net

$

4,431,513

$

4,015,176

The recorded investment in loans does not include accrued interest.

The Company had $1.4 million in residential real estate loans in the process of foreclosure as of June 30, 2020, compared to $1.6 million as of December 31, 2019.