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LOANS | 12 Months Ended
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Dec. 31, 2023
Receivables [Abstract] |
LOANS | LOANS Total loans outstanding as of the years ended December 31, 2023 and 2022 consisted of the following:
(dollars in thousands) | 2023 |  | 2022
Commercial and industrial loans: |  |  |
Working capital lines of credit loans | $ | 604,893 |  |  | $ | 650,948 |
Non-working capital loans | 815,871 |  |  | 842,101 |
Total commercial and industrial loans | 1,420,764 |  |  | 1,493,049 |
Commercial real estate and multi-family residential loans: |  |  |
Construction and land development loans | 634,435 |  |  | 517,664 |
Owner occupied loans | 825,464 |  |  | 758,091 |
Nonowner occupied loans | 724,101 |  |  | 706,107 |
Multi-family loans | 253,534 |  |  | 197,232 |
Total commercial real estate and multi-family residential loans | 2,437,534 |  |  | 2,179,094 |
Agri-business and agricultural loans: |  |  |
Loans secured by farmland | 162,890 |  |  | 201,200 |
Loans for agricultural production | 225,874 |  |  | 230,888 |
Total agri-business and agricultural loans | 388,764 |  |  | 432,088 |
Other commercial loans | 120,726 |  |  | 113,593 |
Total commercial loans | 4,367,788 |  |  | 4,217,824 |
Consumer 1-4 family mortgage loans: |  |  |
Closed end first mortgage loans | 258,103 |  |  | 212,742 |
Open end and junior lien loans | 189,663 |  |  | 175,575 |
Residential construction and land development loans | 8,421 |  |  | 19,249 |
Total consumer 1-4 family mortgage loans | 456,187 |  |  | 407,566 |
Other consumer loans | 96,022 |  |  | 88,075 |
Total consumer loans | 552,209 |  |  | 495,641 |
Gross loans | 4,919,997 |  |  | 4,713,465 |
Less: Allowance for credit losses | (71,972) |  |  | (72,606) |
Net deferred loan fees | (3,463) |  |  | (3,069) |
Loans, net | $ | 4,844,562 |  |  | $ | 4,637,790 |
The recorded investment in loans does not include accrued interest, which totaled $21.5 million and $18.4 million at December 31, 2023 and 2022, respectively. The Company had $238,000 and $306,000 in residential real estate loans in process of foreclosure as of December 31, 2023 and 2022, respectively.

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