Loans |
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| Loans | Loans The Company’s loan portfolio segments, as reported in the tables below, include (i) commercial real estate, (ii) owner-occupied commercial real estate, (iii) acquisition, construction & development, (iv) commercial & industrial, (v) single family residential (1-4 units), and (vi) consumer non-real estate and other. The risks associated with lending activities differ among the various loan segments and are subject to the impact of changes in interest rates, market conditions of collateral securing the loans, and general economic conditions. •Commercial real estate loans carry risk associated with either the net operating income generated from the lease of the real estate collateral or income generated from the sale of the collateral. Other risk factors include the credit-worthiness of the sponsor and the value of the collateral. •Owner-occupied commercial real estate loans carry risk associated with the operations of the business that occupies the property and the value of the collateral. •Acquisition, construction & development loans carry risk associated with the credit-worthiness of the borrower, project completion within budget, sale after completion, and the value of the collateral. •Commercial & industrial loans carry the risk associated with the operations of the business and the value of the collateral, if any. •Single family residential (1-4 units) loans for consumer purposes carry risk associated with the continued credit-worthiness of the borrower and the value of the collateral. Single family residential (1-4 units) loans for investment purpose carry risk associated with the continued credit-worthiness of the borrower, the value of the collateral, and either the net operating income generated from the lease of the real estate collateral or income generated from the sale of the collateral. •Consumer non-real estate and other loans carry risk associated with the credit-worthiness of the borrower and the value of the collateral, if any. Loans at year-end by portfolio segment were as follows (in thousands):
Net deferred loan fees included in the above loan categories totaled $3.5 million and $3.3 million at December 31, 2023, and December 31, 2022, respectively. The Company holds $3.0 million and $7.9 million in Paycheck Protection Program loans, net of deferred fees and costs as of December 31, 2023, and December 31, 2022, respectively.
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