LOANS |
LOANS | | | | | | | | | | | | | | | | | | | | | | | | | | | (dollars in thousands) | | June 30, 2023 | | December 31, 2022 | Commercial and industrial loans: | | | | | | | | | Working capital lines of credit loans | | $ | 618,655 | | | 12.7 | % | | $ | 650,948 | | | 13.8 | % | Non-working capital loans | | 851,232 | | | 17.5 | | | 842,101 | | | 17.9 | | Total commercial and industrial loans | | 1,469,887 | | | 30.2 | | | 1,493,049 | | | 31.7 | | | | | | | | | | | Commercial real estate and multi-family residential loans: | | | | | | | | | Construction and land development loans | | 590,860 | | | 12.1 | | | 517,664 | | | 11.0 | | Owner occupied loans | | 806,072 | | | 16.6 | | | 758,091 | | | 16.0 | | Nonowner occupied loans | | 724,799 | | | 14.9 | | | 706,107 | | | 15.0 | | Multifamily loans | | 254,662 | | | 5.2 | | | 197,232 | | | 4.2 | | Total commercial real estate and multi-family residential loans | | 2,376,393 | | | 48.8 | | | 2,179,094 | | | 46.2 | | | | | | | | | | | Agri-business and agricultural loans: | | | | | | | | | Loans secured by farmland | | 176,807 | | | 3.6 | | | 201,200 | | | 4.3 | | Loans for agricultural production | | 198,155 | | | 4.1 | | | 230,888 | | | 4.9 | | Total agri-business and agricultural loans | | 374,962 | | | 7.7 | | | 432,088 | | | 9.2 | | | | | | | | | | | Other commercial loans: | | 120,958 | | | 2.5 | | | 113,593 | | | 2.4 | | Total commercial loans | | 4,342,200 | | | 89.2 | | | 4,217,824 | | | 89.5 | | | | | | | | | | | Consumer 1-4 family mortgage loans: | | | | | | | | | Closed end first mortgage loans | | 229,078 | | | 4.7 | | | 212,742 | | | 4.5 | | Open end and junior lien loans | | 183,738 | | | 3.8 | | | 175,575 | | | 3.7 | | Residential construction and land development loans | | 18,569 | | | 0.4 | | | 19,249 | | | 0.4 | | Total consumer 1-4 family mortgage loans | | 431,385 | | | 8.9 | | | 407,566 | | | 8.6 | | | | | | | | | | | Other consumer loans | | 92,139 | | | 1.9 | | | 88,075 | | | 1.9 | | Total consumer loans | | 523,524 | | | 10.8 | | | 495,641 | | | 10.5 | | Subtotal | | 4,865,724 | | | 100.0 | % | | 4,713,465 | | | 100.0 | % | Less: Allowance for credit losses | | (72,058) | | | | | (72,606) | | | | Net deferred loan fees | | (3,464) | | | | | (3,069) | | | | Loans, net | | $ | 4,790,202 | | | | | $ | 4,637,790 | | | |
The recorded investment in loans does not include accrued interest, which totaled $18.5 million and $18.4 million as of June 30, 2023 and December 31, 2022, respectively. The Company had $471,000 and $306,000 in residential real estate loans in the process of foreclosure as of June 30, 2023 and December 31, 2022, respectively.
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