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Loans

9 Months Ended

Sep. 30, 2019

Loans and Leases Receivable Disclosure [Abstract]

Note 3 – Loans

Loans held for investment outstanding at September 30, 2019 and December 31, 2018 are summarized as follows:


	September 30, 2019			December 31, 2018
(in thousands)
Commercial and industrial	$	50,826		$	49,076
Agricultural		175			216
Real estate – construction, commercial		19,876			14,666
Real estate – construction, residential		16,364			15,102
Real estate – mortgage, commercial		167,223			150,513
Real estate – mortgage, residential		165,865			149,856
Real estate – mortgage, farmland		3,754			4,179
Consumer installment loans		37,433			31,979

Gross loans		461,516			415,587
Less: Unearned income		(638	)		(719	)

Total	$	460,878		$	414,868

The Company has pledged loans held for investment (in thousands) as collateral for borrowings with the Federal Home Loan Bank of Atlanta totaling $126,125 and $104,791 as of September 30, 2019 and December 31, 2018, respectively.

The following table presents the aging of the recorded investment of past due loans (in thousands) as of September 30, 2019 and December 31, 2018:


	September 30, 2019
(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total Past Due & Nonaccrual		Current Loans			Total Loans
Commercial and industrial	$	126	$	—	$	—	$	538	$	664	$	50,162		$	50,826
Real estate – construction, commercial		141		363		—		942		1,446		18,430			19,876
Real estate – construction, residential		493		240		—		—		733		15,631			16,364
Real estate – mortgage, commercial		—		—		—		2,026		2,026		165,197			167,223
Real estate – mortgage, residential		1,482		—		708		947		3,137		162,728			165,865
Agricultural & Farmland		—		—		—		—		—		3,929			3,929
Consumer installment loans		760		322		—		688		1,770		35,663			37,433
Less: Unearned income		—		—		—		—		—		(638	)		(638	)

	$	3,002	$	925	$	708	$	5,141	$	9,776	$	451,102		$	460,878


	December 31, 2018
(in thousands)	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days Past Due & Accruing		Nonaccrual		Total Past Due & Nonaccrual		Current Loans			Total Loans
Commercial and industrial	$	280	$	29	$	—	$	312	$	621	$	48,455		$	49,076
Real estate – construction, commercial		—		—		—		979		979		13,687			14,666
Real estate – construction, residential		—		—		231		—		231		14,871			15,102
Real estate – mortgage, commercial		218		441		430		2,441		3,530		146,983			150,513
Real estate – mortgage, residential		760		7		1,079		1,441		3,287		146,569			149,856
Agricultural & Farmland		123		—		309		—		432		3,963			4,395
Consumer installment loans		1,017		408		4		357		1,786		30,193			31,979
Less: Unearned income		—		—		—		—		—		(719	)		(719	)

	$	2,398	$	885	$	2,053	$	5,530	$	10,866	$	404,002		$	414,868