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Loans
12 Months Ended
Dec. 31, 2020
Loans And Leases Receivable Disclosure [Abstract]  
Loans

NOTE 3. Loans

The composition of loans at December 31, 2020 and 2019 was as follows:

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

(in thousands)

 

Mortgage loans on real estate:

 

 

 

 

 

 

 

 

Construction and land development

 

$

42,544

 

 

$

42,561

 

Secured by farmland

 

 

15,846

 

 

 

13,917

 

Secured by 1-4 family residential properties

 

 

248,246

 

 

 

219,580

 

Multifamily

 

 

21,496

 

 

 

14,415

 

Commercial

 

 

334,661

 

 

 

286,600

 

Commercial and industrial loans

 

 

140,762

 

 

 

46,543

 

Consumer installment loans

 

 

21,321

 

 

 

9,541

 

All other loans

 

 

10,773

 

 

 

12,050

 

Total loans

 

$

835,649

 

 

$

645,207

 

Net deferred loan costs (fees)

 

 

685

 

 

 

(447

)

Allowance for loan losses

 

 

(7,096

)

 

 

(4,973

)

 

 

$

829,238

 

 

$

639,787