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v3.24.2.u1

LOANS | 6 Months Ended
--- | ---
Jun. 30, 2024
Receivables [Abstract] |
LOANS | LOANS
(dollars in thousands) |  | June 30, 2024 |  | December 31, 2023
Commercial and industrial loans: |  |  |  |  |  |  |  |
Working capital lines of credit loans |  | $ | 697,754 |  |  | 13.8 | % |  | $ | 604,893 |  |  | 12.3 | %
Non-working capital loans |  | 828,523 |  |  | 16.4 |  |  | 815,871 |  |  | 16.6 |
Total commercial and industrial loans |  | 1,526,277 |  |  | 30.2 |  |  | 1,420,764 |  |  | 28.9 |
Commercial real estate and multi-family residential loans: |  |  |  |  |  |  |  |
Construction and land development loans |  | 658,345 |  |  | 13.0 |  |  | 634,435 |  |  | 12.9 |
Owner occupied loans |  | 830,018 |  |  | 16.4 |  |  | 825,464 |  |  | 16.8 |
Nonowner occupied loans |  | 762,365 |  |  | 15.1 |  |  | 724,101 |  |  | 14.7 |
Multifamily loans |  | 252,652 |  |  | 5.0 |  |  | 253,534 |  |  | 5.1 |
Total commercial real estate and multi-family residential loans |  | 2,503,380 |  |  | 49.5 |  |  | 2,437,534 |  |  | 49.5 |
Agri-business and agricultural loans: |  |  |  |  |  |  |  |
Loans secured by farmland |  | 161,410 |  |  | 3.2 |  |  | 162,890 |  |  | 3.3 |
Loans for agricultural production |  | 199,654 |  |  | 4.0 |  |  | 225,874 |  |  | 4.6 |
Total agri-business and agricultural loans |  | 361,064 |  |  | 7.2 |  |  | 388,764 |  |  | 7.9 |
Other commercial loans: |  | 96,703 |  |  | 1.9 |  |  | 120,726 |  |  | 2.5 |
Total commercial loans |  | 4,487,424 |  |  | 88.8 |  |  | 4,367,788 |  |  | 88.8 |
Consumer 1-4 family mortgage loans: |  |  |  |  |  |  |  |
Closed end first mortgage loans |  | 259,094 |  |  | 5.1 |  |  | 258,103 |  |  | 5.2 |
Open end and junior lien loans |  | 197,861 |  |  | 3.9 |  |  | 189,663 |  |  | 3.9 |
Residential construction and land development loans |  | 12,952 |  |  | 0.3 |  |  | 8,421 |  |  | 0.2 |
Total consumer 1-4 family mortgage loans |  | 469,907 |  |  | 9.3 |  |  | 456,187 |  |  | 9.3 |
Other consumer loans |  | 97,895 |  |  | 1.9 |  |  | 96,022 |  |  | 1.9 |
Total consumer loans |  | 567,802 |  |  | 11.2 |  |  | 552,209 |  |  | 11.2 |
Subtotal |  | 5,055,226 |  |  | 100.0 | % |  | 4,919,997 |  |  | 100.0 | %
Less: Allowance for credit losses |  | (80,711) |  |  |  |  | (71,972) |  |  |
Net deferred loan fees |  | (2,885) |  |  |  |  | (3,463) |  |  |
Loans, net |  | $ | 4,971,630 |  |  |  |  | $ | 4,844,562 |  |  |
The recorded investment in loans does not include accrued interest, which totaled $22.4 million and $21.5 million as of June 30, 2024 and December 31, 2023, respectively. The Company h ad $325,000 and $238,000 in residential real estate loans in the process of foreclosure as of June 30, 2024 and December 31, 2023, respectively.

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