LOANS

3 Months Ended

Mar. 31, 2021

LOANS

LOANS

NOTE 3. LOANS

	March 31,				December 31,
(dollars in thousands)	2021				2020
Commercial and industrial loans:
Working capital lines of credit loans	$	574,659	12.8	%	$	626,023	13.5	%
Non-working capital loans		1,101,805	24.6			1,165,355	25.0
Total commercial and industrial loans		1,676,464	37.4			1,791,378	38.5
Commercial real estate and multi-family residential loans:
Construction and land development loans		370,906	8.3			362,653	7.8
Owner occupied loans		669,390	14.9			648,019	13.9
Nonowner occupied loans		605,640	13.5			579,625	12.5
Multifamily loans		301,385	6.7			304,717	6.5
Total commercial real estate and multi-family residential loans		1,947,321	43.4			1,895,014	40.7
Agri-business and agricultural loans:
Loans secured by farmland		154,826	3.5			195,410	4.2
Loans for agricultural production		192,341	4.3			234,234	5.0
Total agri-business and agricultural loans		347,167	7.8			429,644	9.2
Other commercial loans		86,477	1.9			94,013	2.0
Total commercial loans		4,057,429	90.5			4,210,049	90.4
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans		161,573	3.6			167,847	3.6
Open end and junior lien loans		157,492	3.5			163,664	3.5
Residential construction and land development loans		9,221	0.2			12,007	0.3
Total consumer 1-4 family mortgage loans		328,286	7.3			343,518	7.4
Other consumer loans		99,052	2.2			103,616	2.2
Total consumer loans		427,338	9.5			447,134	9.6
Subtotal		4,484,767	100.0	%		4,657,183	100.0	%
Less: Allowance for credit losses		(71,844)				(61,408)
Net deferred loan fees		(10,136)				(8,027)
Loans, net	$	4,402,787			$	4,587,748

The recorded investment in loans does not include accrued interest, which totaled $14.5 million at March 31, 2021.

The Company had $69,000 in residential real estate loans in the process of foreclosure as of March 31, 2021, compared to $19,000 as of December 31, 2020.