Loans

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Loans

LoansA summary of loan balances follows:

(in thousands)	December 31, 2021		December 31, 2020
Commercial real estate:
CRE non-owner occupied	$	1,603,141	$	1,535,555
CRE owner occupied	706,307		624,375
Multifamily	823,500		639,480
Farmland	173,106		152,492
Total commercial real estate loans	3,306,054		2,951,902
Consumer:
SFR 1-4 1st DT liens	666,960		546,592
SFR HELOCs and junior liens	337,513		327,484
Other	67,078		78,032
Total consumer loans	1,071,551		952,108
Commercial and industrial	259,355		526,327
Construction	222,281		284,842
Agriculture production	50,811		44,164
Leases	6,572		3,784
Total loans, net of deferred loan fees and discounts	$	4,916,624	$	4,763,127
Total principal balance of loans owed, net of charge-offs	$	4,946,653	$	4,805,596
Unamortized net deferred loan fees	(13,922)		(16,984)
Discounts to principal balance of loans owed, net of charge-offs	(16,107)		(25,485)
Total loans, net of unamortized deferred loan fees and discounts	$	4,916,624	$	4,763,127
Allowance for credit losses	$	(85,376)	$	(91,847)

In March 2020, the Small Business Administration ("SBA") Paycheck Protection Program ("PPP") was created to help small businesses keep workers employed during the COVID-19 crisis. As of December 31, 2021 and 2020, the total gross balance outstanding of PPP loans, which are included in commercial and industrial loans above, was $63,311,000 and $333,982,000, respectively, as compared to total PPP originations of $640,410,000. As of December 31, 2021, there was approximately $2,164,000 in net deferred fee income remaining to be recognized. During the twelve months ended December 31, 2021, the Company recognized $14,148,000 in fees on PPP loans, as compared with $7,760,000 for the same period ended December 31, 2020