Note 5: Loans

The following is a summary of the balances of loans:


(Dollars in thousands)	September 30, 2016			December 31, 2015
Mortgage loans on real estate:
Construction, Land and Land Development	$	41,530		$	42,129
Farmland		1,051			1,030
Commercial Mortgages (Non-Owner Occupied)		29,131			29,086
Commercial Mortgages (Owner Occupied)		45,504			43,956
Residential First Mortgages		185,373			164,405
Residential Revolving and Junior Mortgages		25,389			26,497
Commercial and Industrial loans		36,596			35,104
Consumer Loans		3,615			5,015

Total loans		368,189			347,222
Net unamortized deferred loan costs		374			324
Allowance for loan losses		(3,741	)		(4,223	)

Loans, net	$	364,822		$	343,323

The recorded investment in past due and non-accruing loans is shown in the following table. A loan past due by more than 90 days is generally placed on nonaccrual unless it is both well secured and in the process of collection.


(Dollars in thousands) Loans Past Due and Nonaccruals	30-89 Days		90 Days or More Past Due and				Total Past Due and				Total
September 30, 2016	Past Due		Still Accruing		Nonaccruals		Nonaccruals		Current		Loans
Construction, Land and Land Development	$	62	$	67	$	627	$	756	$	40,774	$	41,530
Farmland		—		—		—		—		1,051		1,051
Commercial Mortgages (Non-Owner Occupied)		—		—		—		—		29,131		29,131
Commercial Mortgages (Owner Occupied)		294		100		1,650		2,044		43,460		45,504
Residential First Mortgages		860		—		2,276		3,136		182,237		185,373
Residential Revolving and Junior Mortgages		12		—		213		225		25,164		25,389
Commercial and Industrial		19		11		92		122		36,474		36,596
Consumer Loans		—		—		—		—		3,615		3,615

Total	$	1,247	$	178	$	4,858	$	6,283	$	361,906	$	368,189


Loans Past Due and Nonaccruals	30-89 Days		90 Days or More Past Due and				Total Past Due and				Total
December 31, 2015	Past Due		Still Accruing		Nonaccruals		Nonaccruals		Current		Loans
Construction, Land and Land Development	$	93	$	—	$	672	$	765	$	41,364	$	42,129
Farmland		—		—		—		—		1,030		1,030
Commercial Mortgages (Non-Owner Occupied)		264		—		—		264		28,822		29,086
Commercial Mortgages (Owner Occupied)		133		—		2,350		2,483		41,473		43,956
Residential First Mortgages		1,304		—		2,841		4,145		160,260		164,405
Residential Revolving and Junior Mortgages		70		—		277		347		26,150		26,497
Commercial and Industrial		10		—		285		295		34,809		35,104
Consumer Loans		32		11		8		51		4,964		5,015

Total	$	1,906	$	11	$	6,433	$	8,350	$	338,872	$	347,222

In July 2016, the Bank sold its VISA loan portfolio to an unaffiliated third party, recognizing a gain of $150 thousand on sale.