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COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES | 12 Months Ended
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Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract] |
COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES | COMMITMENTS, OFF-BALANCE SHEET RISKS AND CONTINGENCIES During the normal course of business, the Company becomes a party to financial instruments with off-balance sheet risk in order to meet the financing needs of its customers. These financial instruments include commitments to make loans and open-ended revolving lines of credit. Amounts as of the years ended December 31, 2024 and 2023, were as follows:
| 2024 |  | 2023
(dollars in thousands) | Fixed Rate |  | Variable Rate |  | Fixed Rate |  | Variable Rate
Commercial loan lines of credit | $ | 60,856 |  |  | $ | 2,150,375 |  |  | $ | 96,814 |  |  | $ | 2,373,830 |
Standby letters of credit | 0 |  |  | 49,558 |  |  | 0 |  |  | 51,383 |
Real estate mortgage loans | 2,032 |  |  | 5,854 |  |  | 302 |  |  | 4,271 |
Real estate construction mortgage loans | 1,010 |  |  | 5,165 |  |  | 0 |  |  | 4,271 |
Home equity mortgage open-ended revolving lines | 0 |  |  | 388,235 |  |  | 0 |  |  | 364,928 |
Consumer loan open-ended revolving lines | 0 |  |  | 26,589 |  |  | 0 |  |  | 26,870 |
Total | $ | 63,898 |  |  | $ | 2,625,776 |  |  | $ | 97,116 |  |  | $ | 2,825,553 |
The index on variable rate commercial loan commitments is principally the national prime rate. Interest rate ranges on commitments and open-ended revolving lines of credit for years ended December 31, 2024 and 2023, were as follows:
| 2024 |  | 2023
| Fixed Rate |  | Variable Rate |  | Fixed Rate |  | Variable Rate
Commercial loan | 1.00-14.50% |  | 3.35-11.75% |  | 1.00-14.50% |  | 1.63-14.50%
Real estate mortgage loan | 3.00-7.38% |  | 6.00-12.50% |  | 7.38% |  | 4.63-13.50%
Consumer loan open-ended revolving line | 15.00% |  | 7.50-15.00% |  | 15.00% |  | 8.50-15.00%
Commitments, excluding open-ended revolving lines, generally have fixed expiration dates of one year or less. Open-ended revolving lines are monitored for proper performance and compliance on a monthly basis. Since many commitments expire without being drawn upon, the total commitment amount does not necessarily represent future cash requirements. The Company follows the same credit policy (including requiring collateral, if deemed appropriate) to make such commitments as it follows for those loans that are recorded in its financial statements. The Company’s exposure to credit losses in the event of nonperformance is represented by the contractual amount of the commitments. Management does not expect any significant losses as a result of these commitments.

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