LOANS

12 Months Ended

Dec. 31, 2019

LOANS

LOANS

NOTE 3 – LOANS

Total loans outstanding as of the years ended December 31, 2019 and 2018 consisted of the following:

(dollars in thousands)	2019		2018
Commercial and industrial loans:
Working capital lines of credit loans	$	709,849	$	690,620
Non-working capital loans		717,019		714,759
Total commercial and industrial loans		1,426,868		1,405,379
Commercial real estate and multi-family residential loans:
Construction and land development loans		287,641		266,805
Owner occupied loans		573,665		586,325
Nonowner occupied loans		571,364		520,901
Multi-family loans		240,652		195,604
Total commercial real estate and multi-family residential loans		1,673,322		1,569,635
Agri-business and agricultural loans:
Loans secured by farmland		174,380		177,503
Loans for agricultural production		205,151		193,010
Total agri-business and agricultural loans		379,531		370,513
Other commercial loans		112,302		95,657
Total commercial loans		3,592,023		3,441,184
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans		177,227		185,822
Open end and junior lien loans		186,552		187,030
Residential construction and land development loans		12,966		16,226
Total consumer 1-4 family mortgage loans		376,745		389,078
Other consumer loans		98,617		86,064
Total consumer loans		475,362		475,142
Gross loans		4,067,385		3,916,326
Less: Allowance for loan losses		(50,652)		(48,453)
Net deferred loan fees		(1,557)		(1,581)
Loans, net	$	4,015,176	$	3,866,292

The recorded investment in loans does not include accrued interest.

The Company had $1.6 million and $586,000 in residential real estate loans in process of foreclosure as of December 31, 2019 and 2018, respectively.