Loans

6 Months Ended

Jun. 30, 2021

A summary of loan balances follows:


(in thousands)	June 30, 2021		December 31, 2020
Commercial real estate:
CRE non-owner occupied	$	1,534,256	$	1,535,555
CRE owner occupied	659,948		624,375
Multifamily	828,101		639,480
Farmland	172,031		152,492
Total commercial real estate loans	3,194,336		2,951,902
Consumer:
SFR 1-4 1st DT liens	654,373		546,592
SFR HELOCs and junior liens	325,127		327,484
Other	71,109		78,032
Total consumer loans	1,050,609		952,108
Commercial and industrial	452,069		526,327
Construction	200,714		284,842
Agriculture production	41,967		44,164
Leases	5,199		3,784
Total loans, net of deferred loan fees and discounts	$	4,944,894	$	4,763,127
Total principal balance of loans owed, net of charge-offs	$	4,984,824	$	4,805,596
Unamortized net deferred loan fees	(19,843)		(16,984)
Discounts to principal balance of loans owed, net of charge-offs	(20,087)		(25,485)
Total loans, net of unamortized deferred loan fees and discounts	$	4,944,894	$	4,763,127
Allowance for credit losses on loans	$	(86,062)	$	(91,847)

As of June 30, 2021, the total gross balance outstanding of PPP loans (included within commercial and industrial) was $248,582,000 as compared to total PPP originations of $640,410,000. In connection with the origination of these loans, the Company earned approximately $25,299,000 in loan fees, offset by deferred loan costs of approximately $1,245,000, the net of which will be recognized over the earlier of loan maturity (between 24-60 months), repayment or receipt of forgiveness confirmation. As of June 30, 2021 there was approximately $8,990,000 in net deferred fee income remaining to be recognized, as compared to $7,212,000 in remaining net deferred fee income as of December 31, 2020. During the three and six months ended June 30, 2021, the Company recognized $2,344,000 and $7,304,000, respectively in fees on PPP loans. During the three and six months ended June 30, 2020, the Company recognized $2,356,000, respectively, in fees on PPP loans.