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LOANS | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
LOANS | LOANS Total loans outstanding as of the years ended December 31, 2024 and 2023 consisted of the following:
(dollars in thousands) | 2024 |  | 2023
Commercial and industrial loans: |  |  |
Working capital lines of credit loans | $ | 649,609 |  |  | $ | 604,893 |
Non-working capital loans | 801,256 |  |  | 815,871 |
Total commercial and industrial loans | 1,450,865 |  |  | 1,420,764 |
Commercial real estate and multi-family residential loans: |  |  |
Construction and land development loans | 567,781 |  |  | 634,435 |
Owner occupied loans | 807,090 |  |  | 825,464 |
Nonowner occupied loans | 872,671 |  |  | 724,101 |
Multi-family loans | 344,978 |  |  | 253,534 |
Total commercial real estate and multi-family residential loans | 2,592,520 |  |  | 2,437,534 |
Agri-business and agricultural loans: |  |  |
Loans secured by farmland | 156,609 |  |  | 162,890 |
Loans for agricultural production | 230,787 |  |  | 225,874 |
Total agri-business and agricultural loans | 387,396 |  |  | 388,764 |
Other commercial loans | 95,584 |  |  | 120,726 |
Total commercial loans | 4,526,365 |  |  | 4,367,788 |
Consumer 1-4 family mortgage loans: |  |  |
Closed end first mortgage loans | 259,286 |  |  | 258,103 |
Open end and junior lien loans | 214,125 |  |  | 189,663 |
Residential construction and land development loans | 16,818 |  |  | 8,421 |
Total consumer 1-4 family mortgage loans | 490,229 |  |  | 456,187 |
Other consumer loans | 104,041 |  |  | 96,022 |
Total consumer loans | 594,270 |  |  | 552,209 |
Gross loans | 5,120,635 |  |  | 4,919,997 |
Less: Allowance for credit losses | (85,960) |  |  | (71,972) |
Net deferred loan fees | (2,687) |  |  | (3,463) |
Loans, net | $ | 5,031,988 |  |  | $ | 4,844,562 |
The recorded investment in loans does not include accrued interest, which totaled $20.3 million and $21.5 million at December 31, 2024 and 2023, respectively. The Company had $424,000 and $238,000 in residential real estate loans in process of foreclosure as of December 31, 2024 and 2023, respectively.

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