NOTE 4 – LOANS/LEASES RECEIVABLE

The composition of the loan/lease portfolio as of September 30, 2018 and December 31, 2017 is presented as follows:


	As of		As of
	September 30,		December 31,
	2018		2017

C&I loans*	$	1,380,542,524	$	1,134,516,315
CRE loans
Owner-occupied CRE		449,056,125		332,742,477
Commercial construction, land development, and other land		224,295,259		186,402,404
Other non owner-occupied CRE		1,053,974,806		784,347,000
		1,727,326,190		1,303,491,882
Direct financing leases **		126,751,783		141,448,232
Residential real estate loans ***		309,287,535		258,646,265
Installment and other consumer loans		100,191,471		118,610,799
		3,644,099,503		2,956,713,493
Plus deferred loan/lease origination costs, net of fees		9,286,864		7,771,907
		3,653,386,367		2,964,485,400
Less allowance		(43,077,457)		(34,355,728)
	$	3,610,308,910	$	2,930,129,672
** Direct financing leases:
Net minimum lease payments to be received	$	140,055,010	$	156,583,887
Estimated unguaranteed residual values of leased assets		929,932		929,932
Unearned lease/residual income		(14,233,159)		(16,065,587)
		126,751,783		141,448,232
Plus deferred lease origination costs, net of fees		4,039,635		4,624,027
		130,791,418		146,072,259
Less allowance		(2,632,247)		(2,382,098)
	$	128,159,171	$	143,690,161

* Includes equipment financing agreements outstanding at m2, totaling $98,823,351 and $66,758,397 as of September 30, 2018 and December 31, 2017, respectively.

** Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors, which is combined with management's expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider, which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values for the three and nine months ended September 30, 2018 and 2017.

*** Includes residential real estate loans held for sale totaling $2,557,907 and $645,001 as of September 30, 2018, and December 31, 2017, respectively.

Changes in accretable yield for acquired loans were as follows:


	Three months ended September 30, 2018						Nine months ended September 30, 2018
	PCI		Performing				PCI		Performing
	Loans		Loans		Total		Loans		Loans		Total
Balance at the beginning of the period	$	(142,048)	$	(5,051,424)	$	(5,193,472)	$	(191,132)	$	(6,280,075)	$	(6,471,207)
Discount added at acquisition		(293,445)		(7,799,860)		(8,093,305)		(293,445)		(7,799,860)		(8,093,305)
Reclassification of nonaccretable discount to accretable		(891,569)		—		(891,569)		(891,569)		—		(891,569)
Accretion recognized		268,694		1,579,568		1,848,262		317,778		2,808,219		3,125,997
Balance at the end of the period	$	(1,058,368)	$	(11,271,716)	$	(12,330,084)	$	(1,058,368)	$	(11,271,716)	$	(12,330,084)


	Three months ended September 30, 2017						Nine months ended September 30, 2017
	PCI		Performing				PCI		Performing
	Loans		Loans		Total		Loans		Loans		Total
Balance at the beginning of the period	$	(83,860)	$	(5,325,471)	$	(5,409,331)	$	(194,306)	$	(9,115,614)	$	(9,309,920)
Accretion recognized		25,158		658,547		683,705		135,604		4,448,690		4,584,294
Balance at the end of the period	$	(58,702)	$	(4,666,924)	$	(4,725,626)	$	(58,702)	$	(4,666,924)	$	(4,725,626)

The aging of the loan/lease portfolio by classes of loans/leases as of September 30, 2018 and December 31, 2017 is presented as follows:


	As of September 30, 2018
										Accruing Past
				30-59 Days			60-89 Days			Due 90 Days or			Nonaccrual
Classes of Loans/Leases	Current			Past Due			Past Due			More			Loans/Leases			Total

C&I	$	1,371,826,021		$	143,866		$	526,049		$	—		$	8,046,588		$	1,380,542,524
CRE
Owner-Occupied CRE		447,031,462			1,506,334			109,681			—			408,648			449,056,125
Commercial Construction, Land Development, and Other Land		217,512,489			3,994,986			—			1,131,975			1,655,809			224,295,259
Other Non Owner-Occupied CRE		1,043,267,553			413,292			—			—			10,293,961			1,053,974,806
Direct Financing Leases		123,407,592			1,153,460			224,015			—			1,966,716			126,751,783
Residential Real Estate		306,900,388			—			1,142,787			270,413			973,947			309,287,535
Installment and Other Consumer		99,501,411			38,912			413,565			6,967			230,616			100,191,471
	$	3,609,446,916		$	7,250,850		$	2,416,097		$	1,409,355		$	23,576,285		$	3,644,099,503

As a percentage of total loan/lease portfolio		99.05	%		0.20	%		0.07	%		0.04	%		0.65	%		100.00	%


	As of December 31, 2017
										Accruing Past
				30-59 Days			60-89 Days			Due 90 Days or			Nonaccrual
Classes of Loans/Leases	Current			Past Due			Past Due			More			Loans/Leases			Total

C&I	$	1,124,734,486		$	8,306,829		$	243,647		$	—		$	1,231,353		$	1,134,516,315
CRE
Owner-Occupied CRE		331,868,142			540,435			—			—			333,900			332,742,477
Commercial Construction, Land Development, and Other Land		181,558,092			—			—			—			4,844,312			186,402,404
Other Non Owner-Occupied CRE		782,526,249			572,877			4,146			—			1,243,728			784,347,000
Direct Financing Leases		137,708,397			1,305,191			259,600			—			2,175,044			141,448,232
Residential Real Estate		253,261,821			3,552,709			393,410			74,519			1,363,806			258,646,265
Installment and Other Consumer		117,773,259			517,537			56,760			14,152			249,091			118,610,799
	$	2,929,430,446		$	14,795,578		$	957,563		$	88,671		$	11,441,234		$	2,956,713,493

As a percentage of total loan/lease portfolio		99.08	%		0.50	%		0.03	%		0.00	%		0.39	%		100.00	%

NPLs by classes of loans/leases as of September 30, 2018 and December 31, 2017 are presented as follows:


	As of September 30, 2018
	Accruing Past
	Due 90 Days or		Nonaccrual						Percentage of
Classes of Loans/Leases	More		Loans/Leases*		Accruing TDRs		Total NPLs		Total NPLs

C&I	$	—	$	8,046,588	$	677,859	$	8,724,447	29.85	%
CRE
Owner-Occupied CRE		—		408,648		106,470		515,118	1.76	%
Commercial Construction, Land Development, and Other Land		1,131,975		1,655,809		—		2,787,784	9.54	%
Other Non Owner-Occupied CRE		—		10,293,961		2,975,703		13,269,664	45.41	%
Direct Financing Leases		—		1,966,716		163,681		2,130,397	7.29	%
Residential Real Estate		270,413		973,947		305,792		1,550,152	5.30	%
Installment and Other Consumer		6,967		230,616		10,410		247,993	0.85	%
	$	1,409,355	$	23,576,285	$	4,239,915	$	29,225,555	100.00	%

* Nonaccrual loans/leases included $3,036,422 of TDRs, including $336,168 in C&I loans, $2,026,376 in CRE loans, $587,613 in direct financing leases, $82,151 in residential real estate loans, and $4,114 in installment loans.


	As of December 31, 2017
	Accruing Past
	Due 90 Days or		Nonaccrual						Percentage of
Classes of Loans/Leases	More		Loans/Leases **		Accruing TDRs		Total NPLs		Total NPLs

C&I	$	—	$	1,231,353	$	5,224,182	$	6,455,535	34.63	%
CRE
Owner-Occupied CRE		—		333,900		107,322		441,222	2.37	%
Commercial Construction, Land Development, and Other Land		—		4,844,312		—		4,844,312	25.99	%
Other Non Owner-Occupied CRE		—		1,243,728		—		1,243,728	6.67	%
Direct Financing Leases		—		2,175,044		1,494,448		3,669,492	19.68	%
Residential Real Estate		74,519		1,363,806		272,493		1,710,818	9.18	%
Installment and Other Consumer		14,152		249,091		14,027		277,270	1.49	%
	$	88,671	$	11,441,234	$	7,112,472	$	18,642,377	100.00	%

** Nonaccrual loans/leases included $2,282,495 of TDRs, including $122,598 in C&I loans, $1,336,871 in CRE loans, $700,255 in direct financing leases, $115,190 in residential real estate loans, and $7,581 in installment loans.

Changes in the allowance by portfolio segment for the three and nine months ended September 30, 2018 and 2017, respectively, are presented as follows:


	Three Months Ended September 30, 2018
					Direct Financing		Residential Real		Installment and
	C&I		CRE		Leases		Estate		Other Consumer		Total

Balance, beginning	$	15,233,871	$	15,819,040	$	2,724,355	$	2,433,102	$	1,334,708	$	37,545,076
Provisions (credits) charged to expense		3,698,588		2,254,313		124,803		131,977		(3,853)		6,205,828
Loans/leases charged off		(87,040)		(387,499)		(427,638)		(58,241)		(30,230)		(990,648)
Recoveries on loans/leases previously charged off		71,440		30,344		210,727		—		4,690		317,201
Balance, ending	$	18,916,859	$	17,716,198	$	2,632,247	$	2,506,838	$	1,305,315	$	43,077,457


	Three Months Ended September 30, 2017
					Direct Financing		Residential Real		Installment and
	C&I		CRE		Leases		Estate		Other Consumer		Total

Balance, beginning	$	14,207,733	$	12,999,233	$	2,638,301	$	2,430,454	$	1,080,911	$	33,356,632
Provisions (credits) charged to expense		469,977		1,349,393		179,190		(11,654)		99,530		2,086,436
Loans/leases charged off		(338,361)		—		(268,669)		(25,822)		(16,872)		(649,724)
Recoveries on loans/leases previously charged off		63,366		10,748		103,936		6,000		4,947		188,997
Balance, ending	$	14,402,715	$	14,359,374	$	2,652,758	$	2,398,978	$	1,168,516	$	34,982,341


	Nine Months Ended September 30, 2018
					Direct Financing		Residential Real		Installment and
	C&I		CRE		Leases		Estate		Other Consumer		Total

Balance, beginning	$	14,323,036	$	13,962,688	$	2,382,098	$	2,466,431	$	1,221,475	$	34,355,728
Provisions charged to expense		5,283,763		4,091,170		1,417,494		149,923		104,052		11,046,402
Loans/leases charged off		(911,429)		(387,499)		(1,505,824)		(110,566)		(36,063)		(2,951,381)
Recoveries on loans/leases previously charged off		221,489		49,839		338,479		1,050		15,851		626,708
Balance, ending	$	18,916,859	$	17,716,198	$	2,632,247	$	2,506,838	$	1,305,315	$	43,077,457


	Nine Months Ended September 30, 2017
					Direct Financing		Residential Real		Installment and
	C&I		CRE		Leases		Estate		Other Consumer		Total

Balance, beginning	$	12,545,110	$	11,670,609	$	3,111,898	$	2,342,344	$	1,087,487	$	30,757,448
Provisions charged to expense		2,345,121		2,655,521		981,877		148,017		84,002		6,214,538
Loans/leases charged off		(630,704)		(10,375)		(1,611,432)		(101,006)		(40,436)		(2,393,953)
Recoveries on loans/leases previously charged off		143,188		43,619		170,415		9,623		37,463		404,308
Balance, ending	$	14,402,715	$	14,359,374	$	2,652,758	$	2,398,978	$	1,168,516	$	34,982,341

The allowance by impairment evaluation and by portfolio segment as of September 30, 2018 and December 31, 2017 is presented as follows:


	As of September 30, 2018
							Direct Financing			Residential Real			Installment and
	C&I			CRE			Leases			Estate			Other Consumer			Total

Allowance for impaired loans/leases	$	4,787,321		$	3,555,829		$	363,439		$	226,263		$	102,649		$	9,035,501
Allowance for nonimpaired loans/leases		14,129,538			14,160,369			2,268,808			2,280,575			1,202,666			34,041,956
	$	18,916,859		$	17,716,198		$	2,632,247		$	2,506,838		$	1,305,315		$	43,077,457

Impaired loans/leases	$	11,064,848		$	15,944,006		$	2,147,125		$	1,148,009		$	241,614		$	30,545,602
Nonimpaired loans/leases		1,369,477,676			1,711,382,184			124,604,658			308,139,526			99,949,857			3,613,553,901
	$	1,380,542,524		$	1,727,326,190		$	126,751,783		$	309,287,535		$	100,191,471		$	3,644,099,503

Allowance as a percentage of impaired loans/leases		43.27	%		22.30	%		16.93	%		19.71	%		42.48	%		29.58	%
Allowance as a percentage of nonimpaired loans/leases		1.03	%		0.83	%		1.82	%		0.74	%		1.20	%		0.94	%
Total allowance as a percentage of total loans/leases		1.37	%		1.03	%		2.08	%		0.81	%		1.30	%		1.18	%


	As of December 31, 2017
							Direct Financing			Residential Real			Installment and
	C&I			CRE			Leases			Estate			Other Consumer			Total

Allowance for impaired loans/leases	$	715,627		$	1,429,460		$	504,469		$	355,167		$	38,596		$	3,043,319
Allowance for nonimpaired loans/leases		13,607,409			12,533,228			1,877,629			2,111,264			1,182,879			31,312,409
	$	14,323,036		$	13,962,688		$	2,382,098		$	2,466,431		$	1,221,475		$	34,355,728

Impaired loans/leases	$	6,248,209		$	6,529,262		$	3,669,492		$	1,704,846		$	202,354		$	18,354,163
Nonimpaired loans/leases		1,128,268,106			1,296,962,620			137,778,740			256,941,419			118,408,445			2,938,359,330
	$	1,134,516,315		$	1,303,491,882		$	141,448,232		$	258,646,265		$	118,610,799		$	2,956,713,493

Allowance as a percentage of impaired loans/leases		11.45	%		21.89	%		13.75	%		20.83	%		19.07	%		16.58	%
Allowance as a percentage of nonimpaired loans/leases		1.21	%		0.97	%		1.36	%		0.82	%		1.00	%		1.07	%
Total allowance as a percentage of total loans/leases		1.26	%		1.07	%		1.68	%		0.95	%		1.03	%		1.16	%

Information for impaired loans/leases is presented in the tables below. The recorded investment represents customer balances net of any partial charge-offs recognized on the loan/lease. The unpaid principal balance represents the recorded balance outstanding on the loan/lease prior to any partial charge-offs.

Loans/leases, by classes of financing receivable, considered to be impaired as of and for the nine months ended September 30, 2018 are presented as follows:


											Interest Income
							Average				Recognized for
	Recorded		Unpaid Principal		Related		Recorded		Interest Income		Cash Payments
Classes of Loans/Leases	Investment		Balance		Allowance		Investment		Recognized		Received

Impaired Loans/Leases with No Specific Allowance Recorded:
C&I	$	4,549,509	$	4,563,785	$	—	$	2,139,521	$	145,605	$	145,605
CRE
Owner-Occupied CRE		288,409		288,409		—		288,936		—		—
Commercial Construction, Land Development, and Other Land		—		—		—		—		—		—
Other Non Owner-Occupied CRE		2,018,910		2,018,910		—		504,880		26,649		26,649
Direct Financing Leases		1,569,905		1,569,905		—		2,295,387		10,852		10,852
Residential Real Estate		663,167		737,946		—		649,064		207		207
Installment and Other Consumer		130,814		130,814		—		104,290		—		—
	$	9,220,714	$	9,309,769	$	—	$	5,982,078	$	183,313	$	183,313

Impaired Loans/Leases with Specific Allowance Recorded:
C&I	$	6,515,339	$	6,515,339	$	4,787,321	$	1,845,156	$	5,878	$	5,878
CRE
Owner-Occupied CRE		138,201		138,201		34,701		145,082		—		—
Commercial Construction, Land Development, and Other Land		5,801,618		5,801,618		2,145,425		5,116,524		—		—
Other Non Owner-Occupied CRE		7,696,868		7,696,868		1,375,703		1,924,217		8,506		8,506
Direct Financing Leases		577,220		577,220		363,439		532,999		—		—
Residential Real Estate		484,842		507,918		226,263		447,006		8,877		8,877
Installment and Other Consumer		110,800		110,800		102,649		127,434		229		229
	$	21,324,888	$	21,347,964	$	9,035,501	$	10,138,418	$	23,490	$	23,490

Total Impaired Loans/Leases:
C&I	$	11,064,848	$	11,079,124	$	4,787,321	$	3,984,677	$	151,483	$	151,483
CRE
Owner-Occupied CRE		426,610		426,610		34,701		434,018		—		—
Commercial Construction, Land Development, and Other Land		5,801,618		5,801,618		2,145,425		5,116,524		—		—
Other Non Owner-Occupied CRE		9,715,778		9,715,778		1,375,703		2,429,097		35,155		35,155
Direct Financing Leases		2,147,125		2,147,125		363,439		2,828,386		10,852		10,852
Residential Real Estate		1,148,009		1,245,864		226,263		1,096,070		9,084		9,084
Installment and Other Consumer		241,614		241,614		102,649		231,724		229		229
	$	30,545,602	$	30,657,733	$	9,035,501	$	16,120,496	$	206,803	$	206,803

Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management's current estimates.

Loans/leases, by classes of financing receivable, considered to be impaired as of and for the three months ended September 30, 2018 and 2017, respectively, are presented as follows:


	Three Months Ended September 30, 2018						Three Months Ended September 30, 2017
					Interest Income						Interest Income
	Average				Recognized for		Average				Recognized for
	Recorded		Interest Income		Cash Payments		Recorded		Interest Income		Cash Payments
Classes of Loans/Leases	Investment		Recognized		Received		Investment		Recognized		Received

Impaired Loans/Leases with No Specific Allowance Recorded:
C&I	$	2,794,748	$	16,792	$	16,792	$	1,301,977	$	25,816	$	25,816
CRE
Owner-Occupied CRE		288,611		—		—		53,661		6,783		6,783
Commercial Construction, Land Development, and Other Land		—		—		—		—		—		—
Other Non Owner-Occupied CRE		1,009,590		9,189		9,189		1,173,629		—		—
Direct Financing Leases		1,780,494		2,483		2,483		2,820,518		39,759		39,759
Residential Real Estate		665,567		207		207		690,791		—		—
Installment and Other Consumer		115,314		—		—		139,533		—		—
	$	6,654,324	$	28,671	$	28,671	$	6,180,109	$	72,358	$	72,358

Impaired Loans/Leases with Specific Allowance Recorded:
C&I	$	3,401,073	$	1,916	$	1,916	$	5,157,671	$	53,127	$	53,127
CRE
Owner-Occupied CRE		140,495		—		—		155,020		—		—
Commercial Construction, Land Development, and Other Land		5,483,757		—		—		4,345,880		—		—
Other Non Owner-Occupied CRE		3,848,434		8,506		8,506		4,929,960		—		—
Direct Financing Leases		557,572		—		—		893,042		—		—
Residential Real Estate		461,398		2,984		2,984		550,476		5,601		5,601
Installment and Other Consumer		113,122		69		69		48,164		99		99
	$	14,005,851	$	13,475	$	13,475	$	16,080,213	$	58,827	$	58,827

Total Impaired Loans/Leases:
C&I	$	6,195,821	$	18,708	$	18,708	$	6,459,648	$	78,943	$	78,943
CRE
Owner-Occupied CRE		429,106		—		—		208,681		6,783		6,783
Commercial Construction, Land Development, and Other Land		5,483,757		—		—		4,345,880		—		—
Other Non Owner-Occupied CRE		4,858,024		17,695		17,695		6,103,589		—		—
Direct Financing Leases		2,338,066		2,483		2,483		3,713,560		39,759		39,759
Residential Real Estate		1,126,965		3,191		3,191		1,241,267		5,601		5,601
Installment and Other Consumer		228,436		69		69		187,697		99		99
	$	20,660,175	$	42,146	$	42,146	$	22,260,322	$	131,185	$	131,185

Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management's current estimates.

Loans/leases, by classes of financing receivable, considered to be impaired as of December 31, 2017 are presented as follows:


			Unpaid
	Recorded		Principal		Related
Classes of Loans/Leases	Investment		Balance		Allowance

Impaired Loans/Leases with No Specific Allowance Recorded:
C&I	$	1,634,269	$	1,644,706	$	—
CRE
Owner-Occupied CRE		289,261		289,261		—
Commercial Construction, Land Development, and Other Land		—		—		—
Other Non Owner-Occupied CRE		1,171,565		1,171,565		—
Direct Financing Leases		2,944,540		2,944,540		—
Residential Real Estate		943,388		1,018,167		—
Installment and Other Consumer		134,245		134,245		—
	$	7,117,268	$	7,202,484	$	—

Impaired Loans/Leases with Specific Allowance Recorded:
C&I	$	4,613,940	$	4,617,879	$	715,627
CRE
Owner-Occupied CRE		151,962		151,962		48,462
Commercial Construction, Land Development, and Other Land		4,844,312		4,844,312		1,379,235
Other Non Owner-Occupied CRE		72,163		72,163		1,763
Direct Financing Leases		724,953		724,953		504,469
Residential Real Estate		761,458		761,458		355,167
Installment and Other Consumer		68,109		68,109		38,596
	$	11,236,897	$	11,240,836	$	3,043,319

Total Impaired Loans/Leases:
C&I	$	6,248,209	$	6,262,585	$	715,627
CRE
Owner-Occupied CRE		441,222		441,222		48,462
Commercial Construction, Land Development, and Other Land		4,844,312		4,844,312		1,379,235
Other Non Owner-Occupied CRE		1,243,728		1,243,728		1,763
Direct Financing Leases		3,669,492		3,669,492		504,469
Residential Real Estate		1,704,846		1,779,625		355,167
Installment and Other Consumer		202,354		202,354		38,596
	$	18,354,163	$	18,443,318	$	3,043,319

Impaired loans/leases for which no allowance has been provided have adequate collateral, based on management's current estimates.

For C&I and CRE loans, the Company's credit quality indicator consists of internally assigned risk ratings. Each commercial loan is assigned a risk rating upon origination. The risk rating is reviewed every 15 months, at a minimum, and on an as-needed basis depending on the specific circumstances of the loan.

For certain C&I loans (equipment financing agreements), direct financing leases, residential real estate loans, and installment and other consumer loans, the Company's credit quality indicator is performance determined by delinquency status. Delinquency status is updated daily by the Company's loan system.

For each class of financing receivable, the following presents the recorded investment by credit quality indicator as of September 30, 2018 and December 31, 2017:


	As of September 30, 2018
			CRE
					Non Owner-Occupied
					Commercial
					Construction,
					Land
			Owner-Occupied		Development,						As a % of
Internally Assigned Risk Rating	C&I		CRE		and Other Land		Other CRE		Total		Total

Pass (Ratings 1 through 5)	$	1,236,971,045	$	438,799,404	$	216,655,705	$	1,021,710,298	$	2,914,136,452	96.85	%
Special Mention (Rating 6)		28,051,461		6,972,157		3,850,042		10,356,053		49,229,713	1.64	%
Substandard (Rating 7)		16,693,746		3,284,564		3,789,512		21,908,455		45,676,277	1.51	%
Doubtful (Rating 8)		2,921		—		—		—		2,921	—	%
	$	1,281,719,173	$	449,056,125	$	224,295,259	$	1,053,974,806	$	3,009,045,363	100.00	%


	As of September 30, 2018
			Direct Financing		Residential Real		Installment and				As a % of
Delinquency Status *	C&I		Leases		Estate		Other Consumer		Total		Total

Performing	$	98,150,050	$	124,621,386	$	307,737,383	$	99,943,478	$	630,452,297	99.28	%
Nonperforming		673,301		2,130,397		1,550,152		247,993		4,601,843	0.72	%
	$	98,823,351	$	126,751,783	$	309,287,535	$	100,191,471	$	635,054,140	100.00	%


	As of December 31, 2017
			CRE
					Non Owner-Occupied
					Commercial
					Construction,
					Land
			Owner-Occupied		Development,						As a % of
Internally Assigned Risk Rating	C&I		CRE		and Other Land		Other CRE		Total		Total

Pass (Ratings 1 through 5)	$	1,031,963,703	$	318,293,608	$	179,142,839	$	767,119,909	$	2,296,520,059	96.85	%
Special Mention (Rating 6)		10,944,924		8,230,060		1,780,000		10,068,870		31,023,854	1.31	%
Substandard (Rating 7)		24,578,731		6,218,809		5,479,565		7,158,221		43,435,326	1.83	%
Doubtful (Rating 8)		270,559		—		—		—		270,559	0.01	%
	$	1,067,757,917	$	332,742,477	$	186,402,404	$	784,347,000	$	2,371,249,799	100.00	%


	As of December 31, 2017
			Direct Financing		Residential Real		Installment and				As a % of
Delinquency Status *	C&I		Leases		Estate		Other Consumer		Total		Total

Performing	$	65,847,177	$	137,778,740	$	256,935,447	$	118,333,529	$	578,894,893	98.88	%
Nonperforming		911,220		3,669,492		1,710,818		277,270		6,568,800	1.12	%
	$	66,758,397	$	141,448,232	$	258,646,265	$	118,610,799	$	585,463,693	100.00	%

* Performing = loans/leases accruing and less than 90 days past due. Nonperforming = loans/leases on nonaccrual, accruing loans/leases that are greater than or equal to 90 days past due, and accruing TDRs.

As of September 30, 2018 and December 31, 2017, TDRs totaled $7,276,337 and $9,394,967, respectively.

For each class of financing receivable, the following presents the number and recorded investment of TDRs, by type of concession, that were restructured during the three and nine months ended September 30, 2018 and 2017. The difference between the pre-modification recorded investment and the post-modification recorded investment would be any partial charge-offs at the time of the restructuring. No loans were restructured during the three months ended September 30, 2018.


	For the three months ended September 30, 2018							For the three months ended September 30, 2017
		Pre-		Post-					Pre-		Post-
		Modification		Modification					Modification		Modification
	Number of	Recorded		Recorded		Specific		Number of	Recorded		Recorded		Specific
Classes of Loans/Leases	Loans / Leases	Investment		Investment		Allowance		Loans / Leases	Investment		Investment		Allowance

CONCESSION - Significant Payment Delay
C&I	1	$	273,717	$	273,717	$	273,717	4	$	620,452	$	620,452	$	—
Other Non Owner-Occupied CRE	2		980,899		980,899		60,000	—		—		—		—
Direct Financing Leases	2		44,374		44,374		—	4		416,597		416,597		—
	5	$	1,298,990	$	1,298,990	$	333,717	8	$	1,037,049	$	1,037,049	$	—

CONCESSION - Extension of Maturity
Other Non Owner-Occupied CRE	2	$	2,975,703	$	2,975,703	$	815,703	—	$	—	$	—	$	—
Residential Real Estate	1		35,287		35,287		—	—		—		—		—
	3	$	3,010,990	$	3,010,990	$	815,703	—	$	—	$	—	$	—

TOTAL	8	$	4,309,980	$	4,309,980	$	1,149,420	8	$	1,037,049	$	1,037,049	$	—


	For the nine months ended September 30, 2018							For the nine months ended September 30, 2017
		Pre-		Post-					Pre-		Post-
		Modification		Modification					Modification		Modification
	Number of	Recorded		Recorded		Specific		Number of	Recorded		Recorded		Specific
Classes of Loans/Leases	Loans/Leases	Investment		Investment		Allowance		Loans/Leases	Investment		Investment		Allowance


CONCESSION - Significant Payment Delay
C&I	1	$	273,717	$	273,717	$	273,717	7	$	801,650	$	801,650	$	—
Other Non Owner-Occupied CRE	2		980,899		980,899		60,000	—		—		—		—
Real Estate	1		46,320		46,320		—	—		—		—		—
Direct Financing Leases	4		91,898		91,898		—	27		1,889,000		1,889,000		—
	8	$	1,392,834	$	1,392,834	$	333,717	34	$	2,690,650	$	2,690,650	$	—

CONCESSION - Extension of Maturity
Other Non Owner-Occupied CRE	2	$	2,975,703	$	2,975,703	$	815,703	—	$	—	$	—	$	—
Residential Real Estate	1		35,287		35,287		—	—		—		—		—
Direct Financing Leases	—		—		—		—	2		104,382		104,382		—
	3	$	3,010,990	$	3,010,990	$	815,703	2	$	104,382	$	104,382	$	—


TOTAL	11	$	4,403,824	$	4,403,824	$	1,149,420	36	$	2,795,032	$	2,795,032	$	—

Of the loans restructured during the nine months ended September 30, 2018, four with a post-modification recorded balance of $1,300,424 were on nonaccrual. Of the loans restructured during the nine moths ended September 30, 2017, three with a post-modification recorded balance of $1,384,680 were on nonaccrual. For the three and nine months ended September 30, 2018, two of the Company's TDRs redefaulted within 12 months subsequent to restructure where default is defined as delinquency of 90 days or more and/or placement on nonaccrual status. These TDRs related to customers whose loans were restructured in the third quarter of 2018 with pre-modification balances totaling $774 thousand.

For the three and nine months ended September 30, 2017, four of the Company's TDRs redefaulted within 12 months subsequent to restructure where default is defined as delinquency of 90 days or more and/or placement on nonaccrual status. Two of these TDRs were related to the one customer whose loans were restructured in the second quarter of 2017 with pre-modification balances totaling $112 thousand and the other two TDRs related to another customer whose loans were restructured in the fourth quarter of 2016 with pre-modification balances totaling $195 thousand.

Not included in the table above, the Company had 8 TDRs that were restructured and charged off in 2018, totaling $577,377. The Company had 2 TDRs that were restructured and charged off in 2017, totaling $65,623.