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Commitments and Credit Risk
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Credit Risk
Commitments and Credit Risk
 
In the normal course of business, the Company makes various commitments to extend credit which are not reflected in the accompanying consolidated financial statements. At December 31, 2019 and 2018, the Company had outstanding loan commitments totaling approximately $254.4 million and $223.5 million, respectively.
 
In addition, the Company is a limited partner in a Small Business Investment Company fund (the “SBIC Fund”).  As of December 31, 2019, the Company has committed to contribute up to $2.3 million of capital to the SBIC Fund. 

Capital Commitments

Capital expenditures contracted for at the balance sheet date but not yet recognized in the financial statements are associated with the construction of premises intended to house our future corporate headquarters. The Company has entered into construction-related contracts in the amount of $65.1 million. As of December 31, 2019, $61.3 million of such contract commitments had not yet been incurred. These commitments are due within 2 years.