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Loans and Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2021
Receivables [Abstract] |
Loans and Allowance for Credit Losses | LOANS AND ALLOWANCE FOR CREDIT LOSSES Loans Held for Sale The following table presents loans held for sale:
(Dollars in thousands) | December 31, 2021 |  | December 31, 2020
1-4 family residential | $ | 712 |  |  | $ | 6,319 |
Commercial | 6,618 |  |  | 18,227 |
Total loans held for sale | $ | 7,330 |  |  | $ | 24,546 |
Loans Held for Investment and Allowance for Credit Losses The following table presents the amortized cost and unpaid principal for loans held for investment:
| December 31, 2021 |  | December 31, 2020
(Dollars in thousands) | Amortized Cost |  | Unpaid Principal |  | Difference |  | Amortized Cost |  | Unpaid Principal |  | Difference
Commercial real estate | $ | 632,775 |  |  | $ | 634,319 |  |  | $ | (1,544) |  |  | $ | 779,158 |  |  | $ | 782,614 |  |  | $ | (3,456) |
Construction, land development, land | 123,464 |  |  | 123,643 |  |  | (179) |  |  | 219,647 |  |  | 220,021 |  |  | (374) |
1-4 family residential properties | 123,115 |  |  | 123,443 |  |  | (328) |  |  | 157,147 |  |  | 157,731 |  |  | (584) |
Farmland | 77,394 |  |  | 77,905 |  |  | (511) |  |  | 103,685 |  |  | 104,522 |  |  | (837) |
Commercial | 1,430,429 |  |  | 1,440,542 |  |  | (10,113) |  |  | 1,562,957 |  |  | 1,579,841 |  |  | (16,884) |
Factored receivables | 1,699,537 |  |  | 1,703,936 |  |  | (4,399) |  |  | 1,120,770 |  |  | 1,122,008 |  |  | (1,238) |
Consumer | 10,885 |  |  | 10,883 |  |  | 2 |  |  | 15,838 |  |  | 15,863 |  |  | (25) |
Mortgage warehouse | 769,973 |  |  | 769,973 |  |  | — |  |  | 1,037,574 |  |  | 1,037,574 |  |  | — |
Total | 4,867,572 |  |  | $ | 4,884,644 |  |  | $ | (17,072) |  |  | 4,996,776 |  |  | $ | 5,020,174 |  |  | $ | (23,398) |
Allowance for credit losses | (42,213) |  |  |  |  |  |  | (95,739) |  |  |  |  |
| $ | 4,825,359 |  |  |  |  |  |  | $ | 4,901,037 |  |  |  |  |
The difference between the amortized cost and unpaid principal balance is primarily (1) premiums and discounts associated with acquired loans totaling $11,723,000 and $18,511,000 at December 31, 2021 and 2020, respectively, and (2) net deferred origination and factoring fees totaling $5,349,000 and $4,887,000 at December 31, 2021 and 2020, respectively. Accrued interest on loans, which is excluded from the amortized cost of loans held for investment, totaled $14,513,000 and $18,198,000 at December 31, 2021 and December 31, 2020, respectively, and was included in other assets in the Consolidated Balance Sheets. As of December 31, 2021, most of the Company’s non-factoring business activity is with customers located within certain states. The states of Texas (21%), Colorado (15%), Illinois (15%), and Iowa (6%), make up 57% of the Company’s gross loans, excluding factored receivables. Therefore, the Company’s exposure to credit risk is affected by changes in the economies in these states. At December 31, 2020, the states of Texas (22%), Colorado (17%), Illinois (12%), and Iowa (6%) made up 57% of the Company’s gross loans, excluding factored receivables. A majority (91%) of the Company’s factored receivables, representing approximately 32% of the total loan portfolio as of December 31, 2021, are transportation receivables. At December 31, 2020, 90% of our factored receivables, representing approximately 20% of our total loan portfolio, were transportation receivables. At December 31, 2021 and 2020, the Company had $254,970,000 and $145,892,000, respectively, of customer reserves associated with factored receivables which are held to settle any payment disputes or collection shortfalls, may be used to pay customers’ obligations to various third parties as directed by the customer and are periodically released to or withdrawn by customers. Customer reserves are reported as deposits in the consolidated balance sheets. At December 31, 2021 and December 31, 2020 the balance of the Over-Formula Advance Portfolio included in factored receivables was $10,077,000 and $62,100,000, respectively. As of December 31, 2021 the Company carried a separate $19,361,000 receivable (the “Misdirected Payments”) payable by the United States Postal Service (“USPS”) arising from accounts factored to the largest over-formula advance carrier. This amount is separate from the acquired Over-Formula Advances. The amounts represented by this receivable were paid by the USPS directly to such customer in contravention of notices of assignment delivered to, and previously honored by, the USPS, which amount was then not remitted back to the Company by such customer as required. The USPS disputes their obligation to make such payment, citing purported deficiencies in the notices delivered to them. In addition to commencing litigation against such customer, the Company has commenced litigation in the United States Court of Federal Claims against the USPS seeking a ruling that the USPS was obligated to make the payments represented by this receivable directly to the Company. Based on the Company's legal analysis and discussions with counsel advising the Company on this matter, the Company continues to believe it is probable that it will prevail in such action and that the USPS will have the capacity to make payment on such receivable. Consequently, the Company has not reserved for such balance as of December 31, 2021. Loans with carrying amounts of $1,733,917,000 and $2,255,441,000 at December 31, 2021 and 2020, respectively, were pledged to secure Federal Home Loan Bank borrowing capacity and, beginning in 2020, to secure Paycheck Protection Program Liquidity Facility borrowings and Federal Reserve Bank discount window borrowing capacity. During the year ended December 31, 2021, loans with carrying amounts of $83,975,000 were transferred from loans held for investment to loans held for sale at fair value concurrently with management’s change in intent and decision to sell the loans. During the year ended December 31, 2021, certain loans transferred to held for sale were sold resulting in proceeds of $87,813,000, and the Company recognized net gains on transfers and sales of loans, which were recorded as other noninterest income in the consolidated statements of income, of $1,247,000. During the year ended December 31, 2020, loans with carrying amounts of $185,823,000 were transferred from loans held for investment to loans held for sale at fair value concurrently with management’s change in intent and decision to sell the loans. During the year ended December 31, 2020, certain loans transferred to held for sale were sold resulting in proceeds of $165,877,000 and net losses on transfers and sales of loans, which were recorded as other noninterest income in the Consolidated Statements of Income, of $770,000. During the year ended December 31, 2019, loans with carrying amounts of $46,163,000 were transferred from loans held for investment to loans held for sale at fair value concurrently with management’s change in intent and decision to sell the loans. During the year ended December 31, 2019, certain loans transferred to held for sale were sold resulting in proceeds of $47,832,000 and net gains on transfers and sales of loans, which were recorded as other noninterest income in the Consolidated Statements of Income, of $1,669,000. Allowance for Credit Losses The Company’s estimate of the ACL reflects losses expected over the remaining contractual life of the assets. The contractual term does not consider extensions, renewals or modifications unless the Company has identified an expected troubled debt restructuring. The activity in the allowance for credit losses (“ACL”) related to loans held for investment is as follows:
(Dollars in thousands) |  | Beginning Balance |  | Credit Loss Expense (Benefit) |  | Charge-offs |  | Recoveries |  | Ending Balance
Year ended December 31, 2021 |  |  |  |  |
Commercial real estate |  | $ | 10,182 |  |  | $ | (6,214) |  |  | $ | (17) |  |  | $ | 10 |  |  | $ | 3,961 |
Construction, land development, land |  | 3,418 |  |  | (2,584) |  |  | (12) |  |  | 5 |  |  | 827 |
1-4 family residential properties |  | 1,225 |  |  | (849) |  |  | (34) |  |  | 126 |  |  | 468 |
Farmland |  | 832 |  |  | (270) |  |  | — |  |  | — |  |  | 562 |
Commercial |  | 22,040 |  |  | (7,725) |  |  | (481) |  |  | 651 |  |  | 14,485 |
Factored receivables |  | 56,463 |  |  | 10,038 |  |  | (46,043) |  |  | 457 |  |  | 20,915 |
Consumer |  | 542 |  |  | (92) |  |  | (359) |  |  | 135 |  |  | 226 |
Mortgage warehouse |  | 1,037 |  |  | (268) |  |  | — |  |  | — |  |  | 769 |
|  | $ | 95,739 |  |  | $ | (7,964) |  |  | $ | (46,946) |  |  | $ | 1,384 |  |  | $ | 42,213 |
(Dollars in thousands) |  | Beginning Balance |  | Credit Loss Expense (Benefit) |  | Charge-offs |  | Recoveries |  | Initial ACL on Loans Purchased with Credit Deterioration |  | Reclassification To Held For Sale |  | Impact of Adopting ASC 326 |  | Ending Balance
Year ended December 31, 2020 |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 5,353 |  |  | $ | 3,607 |  |  | $ | (320) |  |  | $ | 170 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,372 |  |  | $ | 10,182 |
Construction, land development, land |  | 1,382 |  |  | 2,005 |  |  | (23) |  |  | 241 |  |  | — |  |  | — |  |  | (187) |  |  | 3,418 |
1-4 family residential properties |  | 308 |  |  | 378 |  |  | (27) |  |  | 53 |  |  | — |  |  | — |  |  | 513 |  |  | 1,225 |
Farmland |  | 670 |  |  | (355) |  |  | — |  |  | 80 |  |  | — |  |  | — |  |  | 437 |  |  | 832 |
Commercial |  | 12,566 |  |  | 11,336 |  |  | (2,344) |  |  | 1,115 |  |  | — |  |  | (449) |  |  | (184) |  |  | 22,040 |
Factored receivables |  | 7,657 |  |  | 16,079 |  |  | (3,201) |  |  | 143 |  |  | 37,415 |  |  | — |  |  | (1,630) |  |  | 56,463 |
Consumer |  | 488 |  |  | 562 |  |  | (573) |  |  | 117 |  |  | — |  |  | — |  |  | (52) |  |  | 542 |
Mortgage warehouse |  | 668 |  |  | 369 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,037 |
|  | $ | 29,092 |  |  | $ | 33,981 |  |  | $ | (6,488) |  |  | $ | 1,919 |  |  | $ | 37,415 |  |  | $ | (449) |  |  | $ | 269 |  |  | $ | 95,739 |
(Dollars in thousands) |  | Beginning Balance |  | Provision |  | Charge-offs |  | Recoveries |  | Ending Balance
Year ended December 31, 2019 |  |  |  |  |
Commercial real estate |  | $ | 4,493 |  |  | $ | 1,163 |  |  | $ | (304) |  |  | $ | 1 |  |  | $ | 5,353 |
Construction, land development, land |  | 1,134 |  |  | 234 |  |  | (78) |  |  | 92 |  |  | 1,382 |
1-4 family residential properties |  | 317 |  |  | 71 |  |  | (141) |  |  | 61 |  |  | 308 |
Farmland |  | 535 |  |  | 400 |  |  | (265) |  |  | — |  |  | 670 |
Commercial |  | 12,865 |  |  | 2,580 |  |  | (3,326) |  |  | 447 |  |  | 12,566 |
Factored receivables |  | 7,299 |  |  | 2,556 |  |  | (2,494) |  |  | 296 |  |  | 7,657 |
Consumer |  | 615 |  |  | 583 |  |  | (876) |  |  | 166 |  |  | 488 |
Mortgage warehouse |  | 313 |  |  | 355 |  |  | — |  |  | — |  |  | 668 |
|  | $ | 27,571 |  |  | $ | 7,942 |  |  | $ | (7,484) |  |  | $ | 1,063 |  |  | $ | 29,092 |
The ACL was estimated using the current expected credit loss model. The primary reason for the decrease in required ACL during the year ended December 31, 2021 are net charge-offs on PCD Over-Formula Advances (classified as factored receivables) and improvement of the loss drivers that the Company forecasts to calculate expected losses during the period. Management determined that the $62,200,000 in Over-Formula Advances and some smaller immaterial factored receivables obtained through the TFS Acquisition during the year ended December 31, 2020 had experienced more than insignificant credit deterioration since origination and thus deemed those Over-Formula Advances to be purchased credit deteriorated ("PCD"). The total remaining ACL on all acquired PCD Over-Formula Advances was approximately $10,077,000 at December 31, 2021 compared to $48,485,000 at December 31, 2020. The primary driver of the decrease in required ACL during the year ended December 31, 2021 was a net charge-off of $41,265,000 due from the largest acquired Over-Formula Advance client. This was partially offset by an additional $2,857,000 of reserve required across the two remaining Over-Formula Advance clients. As of December 31, 2021, the entire remaining acquired PCD Over-Formula Advance balance was fully reserved. See Note 2 – Business Combinations and Divestitures for further discussion of Over-Formula Advance activity. The Company uses the discounted cash flow (DCF) method to estimate ACL for the commercial real estate, construction, land development, land, 1-4 family residential, commercial (excluding liquid credit), and consumer loan pools. For all loan pools utilizing the DCF method, the Company utilizes and forecasts national unemployment as a loss driver. The Company also utilizes and forecasts either one-year percentage change in national retail sales (commercial real estate – non multifamily, commercial general, commercial agriculture, commercial asset-based lending, commercial equipment finance, consumer), one-year percentage change in the national home price index (1-4 family residential and construction, land development, land), or one-year percentage change in national gross domestic product (commercial real estate – multifamily) as a second loss driver depending on the nature of the underlying loan pool and how well that loss driver correlates to expected future losses. Consistent forecasts of the loss drivers are used across the loan segments. For all DCF models at December 31, 2021, the Company has determined that four quarters represents a reasonable and supportable forecast period and reverts back to a historical loss rate over eight quarters on a straight-line basis. The Company leverages economic projections from an independent third-party to inform its loss driver forecasts over the four-quarter forecast period. Other internal and external indicators of economic forecasts are also considered by the Company when developing the forecast metrics. At December 31, 2021, as compared to December 31, 2020, the Company forecasted lower national unemployment, lower one-year percentage change increase in national retail sales, higher one-year percentage change increase in the national home price index, and relatively flat one-year percentage change in national gross domestic product. For percentage changes in national retail sales, national home price index and national gross domestic product, the Company projected growth in the first projected quarter followed by some pullback the last three projected quarters resembling something closer to pre-COVID-19 levels albeit slightly more modest. Projected unemployment rates used by the Company are relatively stable over the four projected quarters at levels somewhat higher than pre-COVID-19 conditions. The Company uses a loss-rate method to estimate expected credit losses for the farmland, liquid credit, premium finance, factored receivable, and mortgage warehouse loan pools. For each of these loan segments, the Company applies an expected loss ratio based on internal and peer historical losses adjusted as appropriate for qualitative factors. Qualitative loss factors are based on the Company's judgment of company, market, industry or business specific data, changes in underlying loan composition of specific portfolios, trends relating to credit quality, delinquency, non-performing and adversely rated loans, and reasonable and supportable forecasts of economic conditions. Loss factors used to calculate the required ACL on pools that use the loss-rate method reflect the forecasted economic conditions described above. For the year ended December 31, 2021, in addition to the impact of changes to the ACL on acquired PCD Over-Formula Advances previously discussed, changes in projected loss drivers and assumptions over the reasonable and supportable forecast period decreased the required ACL by $10,408,000. Further, the Company experienced a net reserve release of specific reserves on non-PCD loans. Changes in loan volume and mix during the year ended December 31, 2021 increased the required ACL slightly during the period. Non-PCD-related net charge-offs were $4,298,000 during the year ended December 31, 2021. The following table presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans:
(Dollars in thousands) |  | Real Estate |  | Accounts Receivable |  | Equipment |  | Other |  | Total |  | ACL Allocation
December 31, 2021 |  |  |  |  |  |
Commercial real estate |  | $ | 2,143 |  |  | $ | — |  |  | $ | — |  |  | $ | 155 |  |  | $ | 2,298 |  |  | $ | 283 |
Construction, land development, land |  | 987 |  |  | — |  |  | — |  |  | — |  |  | 987 |  |  | — |
1-4 family residential |  | 1,583 |  |  | — |  |  | — |  |  | 116 |  |  | 1,699 |  |  | 39 |
Farmland |  | 1,803 |  |  | — |  |  | 126 |  |  | 116 |  |  | 2,045 |  |  | — |
Commercial |  | 254 |  |  | — |  |  | 5,598 |  |  | 3,017 |  |  | 8,869 |  |  | 1,733 |
Factored receivables |  | — |  |  | 42,863 |  |  | — |  |  | — |  |  | 42,863 |  |  | 12,640 |
Consumer |  | — |  |  | — |  |  | — |  |  | 240 |  |  | 240 |  |  | 21 |
Mortgage warehouse |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 6,770 |  |  | $ | 42,863 |  |  | $ | 5,724 |  |  | $ | 3,644 |  |  | $ | 59,001 |  |  | $ | 14,716 |
At December 31, 2021 the balance of the Over-Formula Advance Portfolio included in factored receivables $10,077,000 and was fully reserved. At December 31, 2021 the balance of Misdirected Payments included in factored receivables was $19,361,000 and carried no ACL allocation.
(Dollars in thousands) |  | Real Estate |  | Accounts Receivable |  | Equipment |  | Other |  | Total |  | ACL Allocation
December 31, 2020 |  |  |  |  |  |
Commercial real estate |  | $ | 12,454 |  |  | $ | — |  |  | $ | — |  |  | $ | 162 |  |  | $ | 12,616 |  |  | $ | 1,334 |
Construction, land development, land |  | 2,317 |  |  | — |  |  | — |  |  | — |  |  | 2,317 |  |  | 271 |
1-4 family residential |  | 1,948 |  |  | — |  |  | — |  |  | 248 |  |  | 2,196 |  |  | 34 |
Farmland |  | 2,189 |  |  | — |  |  | 143 |  |  | 198 |  |  | 2,530 |  |  | — |
Commercial |  | 1,813 |  |  | — |  |  | 5,842 |  |  | 9,352 |  |  | 17,007 |  |  | 5,163 |
Factored receivables |  | — |  |  | 92,437 |  |  | — |  |  | — |  |  | 92,437 |  |  | 51,371 |
Consumer |  | — |  |  | — |  |  | — |  |  | 253 |  |  | 253 |  |  | 37 |
Mortgage warehouse |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 20,721 |  |  | $ | 92,437 |  |  | $ | 5,985 |  |  | $ | 10,213 |  |  | $ | 129,356 |  |  | $ | 58,210 |
At December 31, 2020 the balance of the Over-Formula Advance Portfolio included in factored receivables was $62,100,000 and carried an ACL allocation of $48,485,000. At December 31, 2020 the balance of Misdirected Payments included in factored receivables was $19,600,000 and carried no ACL allocation. Past Due and Nonaccrual Loans The following tables present an aging of contractually past due loans:
(Dollars in thousands) | Past Due 30-59 Days |  | Past Due 60-90 Days |  | Past Due 90 Days or More |  | Total Past Due |  | Current |  | Total |  | Past Due 90 Days or More Still Accruing
December 31, 2021 |  |  |  |  |  |
Commercial real estate | $ | 1,021 |  |  | $ | — |  |  | $ | 16 |  |  | $ | 1,037 |  |  | $ | 631,738 |  |  | $ | 632,775 |  |  | $ | — |
Construction, land development, land | 30 |  |  | — |  |  | 145 |  |  | 175 |  |  | 123,289 |  |  | 123,464 |  |  | — |
1-4 family residential properties | 730 |  |  | 332 |  |  | 1,114 |  |  | 2,176 |  |  | 120,939 |  |  | 123,115 |  |  | 134 |
Farmland | 378 |  |  | 154 |  |  | 977 |  |  | 1,509 |  |  | 75,885 |  |  | 77,394 |  |  | — |
Commercial | 996 |  |  | 346 |  |  | 4,948 |  |  | 6,290 |  |  | 1,424,139 |  |  | 1,430,429 |  |  | — |
Factored receivables | 70,109 |  |  | 18,302 |  |  | 39,134 |  |  | 127,545 |  |  | 1,571,992 |  |  | 1,699,537 |  |  | 39,134 |
Consumer | 255 |  |  | 48 |  |  | 99 |  |  | 402 |  |  | 10,483 |  |  | 10,885 |  |  | — |
Mortgage warehouse | — |  |  | — |  |  | — |  |  | — |  |  | 769,973 |  |  | 769,973 |  |  | — |
| $ | 73,519 |  |  | $ | 19,182 |  |  | $ | 46,433 |  |  | $ | 139,134 |  |  | $ | 4,728,438 |  |  | $ | 4,867,572 |  |  | $ | 39,268 |
(Dollars in thousands) | Past Due 30-59 Days |  | Past Due 60-90 Days |  | Past Due 90 Days or More |  | Total Past Due |  | Current |  | Total |  | Past Due 90 Days or More Still Accruing
December 31, 2020 |  |  |  |  |  |
Commercial real estate | $ | 1,512 |  |  | $ | 147 |  |  | $ | 7,623 |  |  | $ | 9,282 |  |  | $ | 769,876 |  |  | $ | 779,158 |  |  | $ | — |
Construction, land development, land | 185 |  |  | 1,001 |  |  | 323 |  |  | 1,509 |  |  | 218,138 |  |  | 219,647 |  |  | 22 |
1-4 family residential properties | 1,978 |  |  | 448 |  |  | 952 |  |  | 3,378 |  |  | 153,769 |  |  | 157,147 |  |  | — |
Farmland | 407 |  |  | 1,000 |  |  | 300 |  |  | 1,707 |  |  | 101,978 |  |  | 103,685 |  |  | — |
Commercial | 2,084 |  |  | 1,765 |  |  | 5,770 |  |  | 9,619 |  |  | 1,553,338 |  |  | 1,562,957 |  |  | 35 |
Factored receivables | 33,377 |  |  | 28,506 |  |  | 72,717 |  |  | 134,600 |  |  | 986,170 |  |  | 1,120,770 |  |  | 72,717 |
Consumer | 385 |  |  | 116 |  |  | 81 |  |  | 582 |  |  | 15,256 |  |  | 15,838 |  |  | — |
Mortgage warehouse | — |  |  | — |  |  | — |  |  | — |  |  | 1,037,574 |  |  | 1,037,574 |  |  | — |
| $ | 39,928 |  |  | $ | 32,983 |  |  | $ | 87,766 |  |  | $ | 160,677 |  |  | $ | 4,836,099 |  |  | $ | 4,996,776 |  |  | $ | 72,774 |
At December 31, 2021 and December 31, 2020, total past due Over-Formula Advances recorded in factored receivables was $10,077,000 and $62,100,000, respectively, all of which was considered past due 90 days or more. Aging of the Over-Formula Advances is based upon the service month on which the advances were made by TFS prior to acquisition. At December 31, 2021 and December 31, 2020, the Misdirected Payments totaled $19,361,000 and $19,600,000, respectively. At December 31, 2021, the entire $19,361,000 balance of the Misdirected Payments was considered past due 90 days or more, and at December 31, 2020 approximately $6,000,000 was considered past due 90 days or more. Given the nature of factored receivables, these assets are disclosed as past due 90 days or more still accruing; however, the Company is not recognizing income on the assets at December 31, 2021. Historically, any income recognized on factored receivables that are past due 90 days or more has not been material. The following table presents the amortized cost basis of loans on nonaccrual status and the amortized cost basis of loans on nonaccrual status for which there was no related allowance for credit losses:
|  | December 31, 2021 |  | December 31, 2020
(Dollars in thousands) |  | Nonaccrual |  | Nonaccrual With No ACL |  | Nonaccrual |  | Nonaccrual With No ACL
Commercial real estate |  | $ | 2,025 |  |  | $ | 1,375 |  |  | $ | 9,945 |  |  | $ | 3,461 |
Construction, land development, land |  | 964 |  |  | 964 |  |  | 2,294 |  |  | 1,199 |
1-4 family residential |  | 1,683 |  |  | 1,582 |  |  | 1,848 |  |  | 1,651 |
Farmland |  | 2,044 |  |  | 2,044 |  |  | 2,531 |  |  | 2,531 |
Commercial |  | 8,078 |  |  | 3,910 |  |  | 17,202 |  |  | 4,891 |
Factored receivables |  | — |  |  | — |  |  | — |  |  | — |
Consumer |  | 240 |  |  | 159 |  |  | 253 |  |  | 188 |
Mortgage warehouse |  | — |  |  | — |  |  | — |  |  | — |
|  | $ | 15,034 |  |  | $ | 10,034 |  |  | $ | 34,073 |  |  | $ | 13,921 |
The following table presents accrued interest on nonaccrual loans reversed through interest income:
|  | Year Ended December 31,
(Dollars in thousands) |  | 2021 |  | 2020 |  | 2019
Commercial real estate |  | $ | 8 |  |  | $ | 438 |  |  | $ | 58 |
Construction, land development, land |  | — |  |  | 1 |  |  | 44 |
1-4 family residential |  | 3 |  |  | 32 |  |  | 12 |
Farmland |  | 6 |  |  | 39 |  |  | 27 |
Commercial |  | 36 |  |  | 86 |  |  | 32 |
Factored receivables |  | — |  |  | — |  |  | — |
Consumer |  | 3 |  |  | 2 |  |  | 3 |
Mortgage warehouse |  | — |  |  | — |  |  | — |
|  | $ | 56 |  |  | $ | 598 |  |  | $ | 176 |
There was no interest earned on nonaccrual loans during the years ended December 31, 2021, 2020, and 2019. The following table presents information regarding nonperforming loans:
(Dollars in thousands) |  | December 31, 2021 |  | December 31, 2020
Nonaccrual loans(1) |  | $ | 15,034 |  |  | $ | 34,073 |
Factored receivables greater than 90 days past due |  | 29,057 |  |  | 13,927 |
Other nonperforming factored receivables(2) |  | 1,428 |  |  | 10,029 |
Troubled debt restructurings accruing interest |  | 765 |  |  | 3 |
|  | $ | 46,284 |  |  | $ | 58,032 |
(1) Includes troubled debt restructurings of $3,912,000 and $13,321,000 at December 31, 2021 and 2020, respectively. (2) Other nonperforming factored receivables represent the portion of the Over-Formula Advance Portfolio that is not covered by Covenant's indemnification. This amount is also considered Classified from a risk rating perspective. Credit Quality Information The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt, including: current collateral and financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans as to credit risk on a regular basis. Large groups of smaller balance homogeneous loans, such as consumer loans, are analyzed primarily based on payment status. The Company uses the following definitions for risk ratings: Pass – Pass rated loans have low to average risk and are not otherwise classified. Classified – Classified loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Certain classified loans have the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal of loan constitutes a current period origination. Generally, current period renewals of credit are re-underwritten at the point of renewal and considered current period originations for purposes of the table below. As of December 31, 2021 and 2020, based on the most recent analysis performed, the risk category of loans is as follows:
|  | Revolving Loans |  | Revolving Loans Converted To Term Loans |  | Total
(Dollars in thousands) |  | Year of Origination |  |  |
December 31, 2021 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | Prior |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 211,088 |  |  | $ | 249,652 |  |  | $ | 50,223 |  |  | $ | 25,930 |  |  | $ | 47,447 |  |  | $ | 37,290 |  |  | $ | 4,595 |  |  | $ | — |  |  | $ | 626,225 |
Classified |  | 2,879 |  |  | 3,358 |  |  | 41 |  |  | — |  |  | 16 |  |  | — |  |  | 256 |  |  | — |  |  | 6,550 |
Total commercial real estate |  | $ | 213,967 |  |  | $ | 253,010 |  |  | $ | 50,264 |  |  | $ | 25,930 |  |  | $ | 47,463 |  |  | $ | 37,290 |  |  | $ | 4,851 |  |  | $ | — |  |  | $ | 632,775 |
Construction, land development, land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 56,764 |  |  | $ | 33,756 |  |  | $ | 4,744 |  |  | $ | 23,696 |  |  | $ | 1,199 |  |  | $ | 994 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 121,161 |
Classified |  | 2,150 |  |  | 8 |  |  | — |  |  | — |  |  | — |  |  | 145 |  |  | — |  |  | — |  |  | 2,303 |
Total construction, land development, land |  | $ | 58,914 |  |  | $ | 33,764 |  |  | $ | 4,744 |  |  | $ | 23,696 |  |  | $ | 1,199 |  |  | $ | 1,139 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 123,464 |
1-4 family residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 26,840 |  |  | $ | 15,195 |  |  | $ | 9,485 |  |  | $ | 6,526 |  |  | $ | 8,591 |  |  | $ | 22,151 |  |  | $ | 32,210 |  |  | $ | 318 |  |  | $ | 121,316 |
Classified |  | 273 |  |  | 233 |  |  | 53 |  |  | 6 |  |  | 64 |  |  | 1,089 |  |  | 81 |  |  | — |  |  | 1,799 |
Total 1-4 family residential |  | $ | 27,113 |  |  | $ | 15,428 |  |  | $ | 9,538 |  |  | $ | 6,532 |  |  | $ | 8,655 |  |  | $ | 23,240 |  |  | $ | 32,291 |  |  | $ | 318 |  |  | $ | 123,115 |
Farmland |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 14,387 |  |  | $ | 13,396 |  |  | $ | 7,892 |  |  | $ | 8,040 |  |  | $ | 10,040 |  |  | $ | 19,792 |  |  | $ | 1,317 |  |  | $ | 241 |  |  | $ | 75,105 |
Classified |  | 199 |  |  | 612 |  |  | 593 |  |  | 333 |  |  | 128 |  |  | 298 |  |  | 126 |  |  | — |  |  | 2,289 |
Total farmland |  | $ | 14,586 |  |  | $ | 14,008 |  |  | $ | 8,485 |  |  | $ | 8,373 |  |  | $ | 10,168 |  |  | $ | 20,090 |  |  | $ | 1,443 |  |  | $ | 241 |  |  | $ | 77,394 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 466,254 |  |  | $ | 332,746 |  |  | $ | 77,010 |  |  | $ | 18,940 |  |  | $ | 15,032 |  |  | $ | 7,704 |  |  | $ | 490,159 |  |  | $ | 49 |  |  | $ | 1,407,894 |
Classified |  | 9,317 |  |  | 6,858 |  |  | 5,088 |  |  | 558 |  |  | 56 |  |  | 456 |  |  | 202 |  |  | — |  |  | 22,535 |
Total commercial |  | $ | 475,571 |  |  | $ | 339,604 |  |  | $ | 82,098 |  |  | $ | 19,498 |  |  | $ | 15,088 |  |  | $ | 8,160 |  |  | $ | 490,361 |  |  | $ | 49 |  |  | $ | 1,430,429 |
Factored receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,667,922 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,667,922 |
Classified |  | 10,826 |  |  | 20,789 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 31,615 |
Total factored receivables |  | $ | 1,678,748 |  |  | $ | 20,789 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,699,537 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 3,252 |  |  | $ | 1,794 |  |  | $ | 669 |  |  | $ | 553 |  |  | $ | 2,424 |  |  | $ | 1,882 |  |  | $ | 70 |  |  | $ | — |  |  | $ | 10,644 |
Classified |  | 5 |  |  | — |  |  | — |  |  | 12 |  |  | 119 |  |  | 105 |  |  | — |  |  | — |  |  | 241 |
Total consumer |  | $ | 3,257 |  |  | $ | 1,794 |  |  | $ | 669 |  |  | $ | 565 |  |  | $ | 2,543 |  |  | $ | 1,987 |  |  | $ | 70 |  |  | $ | — |  |  | $ | 10,885 |
Mortgage warehouse |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 769,973 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 769,973 |
Classified |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total mortgage warehouse |  | $ | 769,973 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 769,973 |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 3,216,480 |  |  | $ | 646,539 |  |  | $ | 150,023 |  |  | $ | 83,685 |  |  | $ | 84,733 |  |  | $ | 89,813 |  |  | $ | 528,359 |  |  | $ | 608 |  |  | $ | 4,800,240 |
Classified |  | 25,649 |  |  | 31,858 |  |  | 5,775 |  |  | 909 |  |  | 383 |  |  | 2,093 |  |  | 665 |  |  | — |  |  | 67,332 |
Total loans |  | $ | 3,242,129 |  |  | $ | 678,397 |  |  | $ | 155,798 |  |  | $ | 84,594 |  |  | $ | 85,116 |  |  | $ | 91,906 |  |  | $ | 529,024 |  |  | $ | 608 |  |  | $ | 4,867,572 |
|  | Revolving Loans |  | Revolving Loans Converted To Term Loans |  | Total
(Dollars in thousands) |  | Year of Origination |  |  |
December 31, 2020 |  | 2020 |  | 2019 |  | 2018 |  | 2017 |  | 2016 |  | Prior |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 271,406 |  |  | $ | 94,085 |  |  | $ | 62,075 |  |  | $ | 49,115 |  |  | $ | 27,921 |  |  | $ | 230,731 |  |  | $ | 27,666 |  |  | $ | 908 |  |  | $ | 763,907 |
Classified |  | 10,298 |  |  | 2,239 |  |  | 133 |  |  | 1,367 |  |  | 664 |  |  | 550 |  |  | — |  |  | — |  |  | 15,251 |
Total commercial real estate |  | $ | 281,704 |  |  | $ | 96,324 |  |  | $ | 62,208 |  |  | $ | 50,482 |  |  | $ | 28,585 |  |  | $ | 231,281 |  |  | $ | 27,666 |  |  | $ | 908 |  |  | $ | 779,158 |
Construction, land development, land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 72,149 |  |  | $ | 12,490 |  |  | $ | 11,829 |  |  | $ | 5,820 |  |  | $ | 8,946 |  |  | $ | 105,584 |  |  | $ | 12 |  |  | $ | 500 |  |  | $ | 217,330 |
Classified |  | 2,031 |  |  | 34 |  |  | — |  |  | — |  |  | — |  |  | 252 |  |  | — |  |  | — |  |  | 2,317 |
Total construction, land development, land |  | $ | 74,180 |  |  | $ | 12,524 |  |  | $ | 11,829 |  |  | $ | 5,820 |  |  | $ | 8,946 |  |  | $ | 105,836 |  |  | $ | 12 |  |  | $ | 500 |  |  | $ | 219,647 |
1-4 family residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 58,300 |  |  | $ | 11,280 |  |  | $ | 11,425 |  |  | $ | 8,982 |  |  | $ | 4,400 |  |  | $ | 20,167 |  |  | $ | 35,326 |  |  | $ | 5,320 |  |  | $ | 155,200 |
Classified |  | 1,473 |  |  | 149 |  |  | 137 |  |  | 23 |  |  | 11 |  |  | 49 |  |  | 105 |  |  | — |  |  | 1,947 |
Total 1-4 family residential |  | $ | 59,773 |  |  | $ | 11,429 |  |  | $ | 11,562 |  |  | $ | 9,005 |  |  | $ | 4,411 |  |  | $ | 20,216 |  |  | $ | 35,431 |  |  | $ | 5,320 |  |  | $ | 157,147 |
Farmland |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 37,212 |  |  | $ | 10,095 |  |  | $ | 7,388 |  |  | $ | 15,262 |  |  | $ | 7,908 |  |  | $ | 20,572 |  |  | $ | 1,421 |  |  | $ | 486 |  |  | $ | 100,344 |
Classified |  | 994 |  |  | 407 |  |  | 403 |  |  | — |  |  | 22 |  |  | 590 |  |  | 925 |  |  | — |  |  | 3,341 |
Total farmland |  | $ | 38,206 |  |  | $ | 10,502 |  |  | $ | 7,791 |  |  | $ | 15,262 |  |  | $ | 7,930 |  |  | $ | 21,162 |  |  | $ | 2,346 |  |  | $ | 486 |  |  | $ | 103,685 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 470,477 |  |  | $ | 162,203 |  |  | $ | 127,569 |  |  | $ | 94,154 |  |  | $ | 70,405 |  |  | $ | 181,312 |  |  | $ | 416,197 |  |  | $ | 11,396 |  |  | $ | 1,533,713 |
Classified |  | 8,128 |  |  | 2,390 |  |  | 983 |  |  | 190 |  |  | 4,470 |  |  | 2,787 |  |  | 10,296 |  |  | — |  |  | 29,244 |
Total commercial |  | $ | 478,605 |  |  | $ | 164,593 |  |  | $ | 128,552 |  |  | $ | 94,344 |  |  | $ | 74,875 |  |  | $ | 184,099 |  |  | $ | 426,493 |  |  | $ | 11,396 |  |  | $ | 1,562,957 |
Factored receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,081,316 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,081,316 |
Classified |  | 39,454 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 39,454 |
Total factored receivables |  | $ | 1,120,770 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,120,770 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 8,382 |  |  | $ | 2,251 |  |  | $ | 1,336 |  |  | $ | 1,258 |  |  | $ | 688 |  |  | $ | 1,594 |  |  | $ | 74 |  |  | $ | — |  |  | $ | 15,583 |
Classified |  | 146 |  |  | 28 |  |  | 18 |  |  | 36 |  |  | 11 |  |  | 16 |  |  | — |  |  | — |  |  | 255 |
Total consumer |  | $ | 8,528 |  |  | $ | 2,279 |  |  | $ | 1,354 |  |  | $ | 1,294 |  |  | $ | 699 |  |  | $ | 1,610 |  |  | $ | 74 |  |  | $ | — |  |  | $ | 15,838 |
Mortgage warehouse |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,037,574 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,037,574 |
Classified |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total mortgage warehouse |  | $ | 1,037,574 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,037,574 |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 3,036,816 |  |  | $ | 292,404 |  |  | $ | 221,622 |  |  | $ | 174,591 |  |  | $ | 120,268 |  |  | $ | 559,960 |  |  | $ | 480,696 |  |  | $ | 18,610 |  |  | $ | 4,904,967 |
Classified |  | 62,524 |  |  | 5,247 |  |  | 1,674 |  |  | 1,616 |  |  | 5,178 |  |  | 4,244 |  |  | 11,326 |  |  | — |  |  | 91,809 |
Total loans |  | $ | 3,099,340 |  |  | $ | 297,651 |  |  | $ | 223,296 |  |  | $ | 176,207 |  |  | $ | 125,446 |  |  | $ | 564,204 |  |  | $ | 492,022 |  |  | $ | 18,610 |  |  | $ | 4,996,776 |
Troubled Debt Restructurings The Company had a recorded investment in troubled debt restructurings of $4,677,000 and $13,324,000 as of December 31, 2021 and 2020, respectively. The Company had allocated specific allowances for these loans of $1,068,000 and $2,469,000 at December 31, 2021 and 2020, respectively, and had not committed to lend additional amounts. The following table presents the pre- and post-modification recorded investment of loans modified as troubled debt restructurings during the years ended December 31, 2021, 2020, and 2019. The Company did not grant principal reductions on any restructured loans.
(Dollars in thousands) |  | Extended Amortization Period |  | Payment Deferrals |  | Protective Advances |  | AB Note Restructure |  | Extended Maturity and Reduced Interest Rate |  | Total Modifications |  | Number of Loans
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | — |  |  | $ | 741 |  |  | $ | — |  |  | $ | — |  |  | $ | 741 |  |  | 1
Commercial |  | — |  |  | 697 |  |  | — |  |  | — |  |  | — |  |  | 697 |  |  | 2
|  | $ | — |  |  | $ | 697 |  |  | $ | 741 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,438 |  |  | 3
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | 727 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 727 |  |  | 3
Construction, land development, land |  | 8 |  |  | 981 |  |  | — |  |  | — |  |  | — |  |  | 989 |  |  | 2
1-4 family residential properties |  | — |  |  | 171 |  |  | — |  |  | — |  |  | — |  |  | 171 |  |  | 1
Farmland |  | 3,486 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,486 |  |  | 1
Commercial |  | 4,714 |  |  | 9,877 |  |  | — |  |  | — |  |  | — |  |  | 14,591 |  |  | 22
|  | $ | 8,208 |  |  | $ | 11,756 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 19,964 |  |  | 29
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,597 |  |  | $ | — |  |  | $ | 4,597 |  |  | 1
1-4 family residential properties |  | — |  |  | 38 |  |  | — |  |  | — |  |  | — |  |  | 38 |  |  | 2
Commercial |  | 1,762 |  |  | 115 |  |  | — |  |  | — |  |  | 593 |  |  | 2,470 |  |  | 11
|  | $ | 1,762 |  |  | $ | 153 |  |  | $ | — |  |  | $ | 4,597 |  |  | $ | 593 |  |  | $ | 7,105 |  |  | 14
During the year ended December 31, 2021, the Company had three loans modified as a troubled debt restructuring with a recorded investment of $1,681,000 for which there was a payment default within twelve months following the modification. The payment defaults did not result in incremental allowance allocations or charge-offs. During the year ended December 31, 2020, the Company had one loan modified as troubled debt restructurings with a recorded investment of $5,741,000 for which there was a payment default within twelve months following the modification. There were three loans modified as troubled debt restructurings with a recorded investment of $680,000 during the year ended December 31, 2019 for which there was a payment default within twelve months following the modification. Default is determined at 90 or more days past due, charge-off, or foreclosure. The following table summarizes the balance of loans modified for borrowers impacted by the COVID-19 pandemic.
|  | Year Ended December 31,
(Dollars in thousands) |  | 2021 |  | 2020
Total modifications |  | 10,801 |  | 628,022
These modifications primarily consisted of payment deferrals to assist customers. As these modifications related to the COVID-19 pandemic and qualify under the provisions of either Section 4013 of the CARES act or Interagency Guidance, they are not considered troubled debt restructurings. The following table summarized the amortized cost of loans with payments currently in deferral and the accrued interest related to the loans with payments currently in deferral:
(Dollars in thousands) |  | Total Loans |  | Balance of Loans Currently in Deferral |  | Percentage of Portfolio |  | Accrued Interest Receivable
December 31, 2021 |  |  |  |
Commercial real estate |  | $ | 632,775 |  |  | $ | 30,212 |  |  | 4.8 | % |  | $ | 116 |
Construction, land development, land |  | 123,464 |  |  | 1,340 |  |  | 1.1 | % |  | 5 |
1-4 family residential |  | 123,115 |  |  | — |  |  | — | % |  | — |
Farmland |  | 77,394 |  |  | 338 |  |  | 0.4 | % |  | 3 |
Commercial |  | 1,430,429 |  |  | — |  |  | — | % |  | — |
Factored receivables |  | 1,699,537 |  |  | — |  |  | — | % |  | — |
Consumer |  | 10,885 |  |  | 6 |  |  | 0.1 | % |  | — |
Mortgage warehouse |  | 769,973 |  |  | — |  |  | — | % |  | — |
Total |  | $ | 4,867,572 |  |  | $ | 31,896 |  |  | 0.7 | % |  | $ | 124 |
(Dollars in thousands) |  | Total Loans |  | Balance of Loans Currently in Deferral |  | Percentage of Portfolio |  | Accrued Interest Receivable
December 31, 2020 |  |  |  |
Commercial real estate |  | $ | 779,158 |  |  | $ | 69,980 |  |  | 9.0 | % |  | $ | 357 |
Construction, land development, land |  | 219,647 |  |  | 18,821 |  |  | 8.6 | % |  | 183 |
1-4 family residential |  | 157,147 |  |  | 1,129 |  |  | 0.7 | % |  | 15 |
Farmland |  | 103,685 |  |  | — |  |  | — | % |  | — |
Commercial |  | 1,562,957 |  |  | 14,561 |  |  | 0.9 | % |  | 166 |
Factored receivables |  | 1,120,770 |  |  | — |  |  | — | % |  | — |
Consumer |  | 15,838 |  |  | 106 |  |  | 0.7 | % |  | 5 |
Mortgage warehouse |  | 1,037,574 |  |  | — |  |  | — | % |  | — |
Total |  | $ | 4,996,776 |  |  | $ | 104,597 |  |  | 2.1 | % |  | $ | 726 |
Residential Real Estate Loans In Process of Foreclosure At December 31, 2021 and 2020, the Company had $301,000 and $251,000, respectively, in 1-4 family residential real estate loans for which formal foreclosure proceedings were in process.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 + Details
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- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration