Loans

3 Months Ended

Mar. 31, 2020

Loans and Leases Receivable, Net Amount [Abstract]

Loans

Loans

The following summarizes the Company’s major classifications for loans (in thousands):

	March 31, 2020		December 31, 2019
Commercial and industrial	308,567		308,015
Commercial real estate	1,470,949		1,459,737
1-4 Family	120,852		N/R
Hotels	294,072		N/R
Multi-family	205,684		N/R
Non Residential Non-Owner Occupied	627,852		N/R
Non Residential Owner Occupied	222,489		N/R
Residential real estate	1,629,578		1,640,396
Home equity	146,034		148,928
Consumer	54,749		54,263
DDA overdrafts	3,173		4,760
Gross loans	3,613,050		3,616,099
Allowance for credit losses	(24,393)		(11,589)
Net loans	$	3,588,657	$	3,604,510
Construction loans included in:
Residential real estate	$	28,870	$	29,033
Commercial real estate	44,453		64,049
N/R = Not reported. Results for reporting periods beginning after January 1, 2020 are presented under ASC 326, while prior period amounts continue to be reported in accordance with previously applicable GAAP.

The Company’s commercial and residential real estate construction loans are primarily secured by real estate within the Company’s principal markets.  These loans were originated under the Company’s loan policies, which are focused on the risk characteristics of the loan portfolio, including construction loans. In the judgment of the Company's management, adequate consideration has been given to these loans in establishing the Company's allowance for credit losses.