LOANS

9 Months Ended

Sep. 30, 2020

LOANS

LOANS

NOTE 3. LOANS

	September 30,				December 31,
(dollars in thousands)	2020				2019
Commercial and industrial loans:
Working capital lines of credit loans	$	592,560	12.9	%	$	709,849	17.5	%
Non-working capital loans		1,256,853	27.3			717,019	17.6
Total commercial and industrial loans		1,849,413	40.2			1,426,868	35.1
Commercial real estate and multi-family residential loans:
Construction and land development loans		393,101	8.5			287,641	7.1
Owner occupied loans		619,820	13.5			573,665	14.1
Nonowner occupied loans		567,674	12.3			571,364	14.0
Multifamily loans		279,713	6.1			240,652	5.9
Total commercial real estate and multi-family residential loans		1,860,308	40.4			1,673,322	41.1
Agri-business and agricultural loans:
Loans secured by farmland		150,503	3.2			174,380	4.3
Loans for agricultural production		187,651	4.1			205,151	5.0
Total agri-business and agricultural loans		338,154	7.3			379,531	9.3
Other commercial loans		97,533	2.1			112,302	2.8
Total commercial loans		4,145,408	90.0			3,592,023	88.3
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans		170,671	3.7			177,227	4.4
Open end and junior lien loans		170,867	3.7			186,552	4.6
Residential construction and land development loans		11,012	0.3			12,966	0.3
Total consumer 1-4 family mortgage loans		352,550	7.7			376,745	9.3
Other consumer loans		105,285	2.3			98,617	2.4
Total consumer loans		457,835	10.0			475,362	11.7
Subtotal		4,603,243	100.0	%		4,067,385	100.0	%
Less: Allowance for loan losses		(60,747)				(50,652)
Net deferred loan fees		(13,319)				(1,557)
Loans, net	$	4,529,177			$	4,015,176

The recorded investment in loans does not include accrued interest.

The Company had $197,000 in residential real estate loans in the process of foreclosure as of September 30, 2020, compared to $1.6 million as of December 31, 2019.