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Loans Receivable

12 Months Ended

Dec. 31, 2021

(5)	Loans Receivable

Loans and leases outstanding at December 31, 2021 and 2020 are detailed by category as follows:


	December 31,		December 31,
(dollars in thousands)	2021		2020
Mortgage loans held for sale	$	80,882	229,199
Real estate loans:
Commercial mortgage		516,928	485,103
Home equity lines and loans		52,299	64,987
Residential mortgage (1)		68,175	52,454
Construction		160,905	140,246
Total real estate loans		798,307	742,790

Commercial and industrial		293,771	261,750
Small business loans		114,158	49,542
Paycheck Protection Program ("PPP") loans		90,194	203,543
Main Street Lending Program ("MSLP") loans		597	580
Consumer		419	511
Leases, net		88,242	31,040
Total portfolio loans and leases		1,385,688	1,289,756
Total loans and leases	$	1,466,570	1,518,955

Loans with predetermined rates	$	488,220	658,458
Loans with adjustable or floating rates		978,350	860,497
Total loans and leases	$	1,466,570	1,518,955

Net deferred loan origination costs (fees)	$	769	(4,992)

(1) Includes $17,558 and $12,182 of loans at fair value as of December 31, 2021 and 2020, respectively.

Components of the net investment in leases at December 31, 2021 and 2020 are detailed as follows:


	December 31,		December 31,
(dollars in thousands)	2021		2020
Minimum lease payments receivable	$	105,608	37,919
Unearned lease income		(17,366)	(6,879)
Total	$	88,242	31,040

Age Analysis of Past Due Loans and Leases

The following table presents an aging of the Corporation’s loan and lease portfolio as of December 31, 2021 and 2020, respectively:


						Total
			90+ days			accruing	Nonaccrual	Total loans
December 31, 2021	30-89 days		past due and	Total past		loans and	loans and	portfolio	Delinquency
(dollars in thousands)	past due		still accruing	due	Current	leases	leases	and leases	percentage
Commercial mortgage	$	—	—	—	516,928	516,928	—	516,928	—	%
Home equity lines and loans		103	—	103	51,285	51,388	911	52,299	1.94
Residential mortgage (1)		600	—	600	65,177	65,777	2,398	68,175	4.40
Construction		—	—	—	160,905	160,905	—	160,905	—
Commercial and industrial		—	—	—	274,970	274,970	18,801	293,771	6.40
Small business loans		—	—	—	113,492	113,492	666	114,158	0.58
Paycheck Protection Program loans		—	—	—	90,194	90,194	—	90,194	—
Main Street Lending Program loans		—	—	—	597	597	—	597	—
Consumer		—	—	—	419	419	—	419	—
Leases, net		390	—	390	87,640	88,030	212	88,242	0.68
Total	$	1,093	—	1,093	1,361,607	1,362,700	22,988	1,385,688	1.74	%

(1) Includes $17,558 of loans at fair value as of December 31, 2021 ($16,768 of current, $189 of 30-89 days past due and $601 of nonaccrual).

The increase in nonaccrual loans and leases was largely due to one commercial loan relationship for $13.8 million that had been on COVID-19 deferral but became a non-performing loan relationship late in 2021.


						Total
			90+ days			accruing	Nonaccrual	Total loans
December 31, 2020	30-89 days		past due and	Total past		loans and	loans and	portfolio	Delinquency
(dollars in thousands)	past due		still accruing	due	Current	leases	leases	and leases	percentage
Commercial mortgage	$	—	—	—	482,042	482,042	3,061	485,103	0.63	%
Home equity lines and loans		—	—	—	64,128	64,128	859	64,987	1.32
Residential mortgage (1)		3,595	—	3,595	46,134	49,729	2,725	52,454	12.05
Construction		—	—	—	140,246	140,246	—	140,246	—
Commercial and industrial		—	—	—	260,465	260,465	1,285	261,750	0.49
Small business loans		—	—	—	49,542	49,542	—	49,542	—
Paycheck Protection Program loans		—	—	—	203,543	203,543	—	203,543	—
Main Street Lending Program loans		—	—	—	580	580	—	580	—
Consumer		—	—	—	511	511	—	511	—
Leases, net		109	—	109	30,931	31,040	—	31,040	0.35
Total	$	3,704	—	3,704	1,278,122	1,281,826	7,930	1,289,756	0.90	%

(1) Includes $12,182 of loans at fair value as of December 31, 2020 ($10,314 of current, $958 of 30-89 days past due and $910 of nonaccrual).