COVID-19 and CARES Act Loan Activities

6 Months Ended

Jun. 30, 2021

COVID-19 and CARES Act Loan Activities [Abstract]

COVID-19 and CARES Act Loan Activities

Note 11 – COVID-19 and CARES Act Loan Activities

We continue working with our customers through the COVID-19 pandemic.  At June 30, 2021, the number of customers with CARES Act deferrals reduced to 60 for a total outstanding amount of $28.6 million.  The majority of our CARES Act deferrals have been 90 day deferrals.  Total outstanding deferrals include 21 commercial loan deferrals with a total outstanding amount of $26.0 million, 29 residential loan deferrals with a total outstanding amount of $2.4 million, and 10 consumer loan deferrals with a total outstanding amount of $0.2 million. These loan deferrals and modifications have been executed consistent with the guidelines of the CARES Act.  Pursuant to the CARES Act, these loan deferrals are not included in our nonperforming loans disclosed below.

At June 30, 2021, we had closed 6,312 Paycheck Protection Program (PPP) loans totaling $401.3 million, including $124.3 million stemming from the PPP extension under the Consolidated Appropriations Act 2021.  Through June 30, 2021, we have had $217.2 million of our PPP loans forgiven by the SBA.