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Loans
12 Months Ended
Dec. 31, 2021
Loans And Leases Receivable Disclosure [Abstract]  
Loans

NOTE 3. Loans

The composition of loans at December 31, 2021 and 2020 was as follows:

 

 

 

December 31,

 

 

 

2021

 

 

2020

 

 

 

(in thousands)

 

Mortgage loans on real estate:

 

 

 

 

 

 

 

 

Construction and land development

 

$

71,191

 

 

$

42,544

 

Secured by farmland

 

 

13,710

 

 

 

15,846

 

Secured by 1-4 family residential properties

 

 

263,723

 

 

 

248,246

 

Multifamily

 

 

29,093

 

 

 

21,496

 

Commercial

 

 

377,051

 

 

 

334,661

 

Commercial and industrial loans

 

 

143,378

 

 

 

140,762

 

Consumer installment loans

 

 

67,281

 

 

 

21,321

 

All other loans

 

 

16,798

 

 

 

10,773

 

Total loans

 

$

982,225

 

 

$

835,649

 

Net deferred loan costs and premiums

 

 

3,495

 

 

 

685

 

Allowance for loan losses

 

 

(8,787

)

 

 

(7,096

)

 

 

$

976,933

 

 

$

829,238