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CONCENTRATIONS OF CREDIT RISK
12 Months Ended
Dec. 31, 2020
Risks and Uncertainties [Abstract]  
CONCENTRATIONS OF CREDIT RISK
5. CONCENTRATIONS OF CREDIT RISK

 

We grant short to intermediate term commercial and consumer loans to customers throughout our primary market area of Charleston, Berkeley and Dorchester counties of South Carolina. Our primary market area is heavily dependent on tourism, medical, and legal services. Although we have a diversified loan portfolio, a substantial portion of our debtors’ ability to honor their contracts is dependent upon the stability of the economic environment in their primary market. The majority of the loan portfolio is located in our immediate market area with a concentration in real estate related activities.

 

Our loans were concentrated in the following categories.

 

    December 31,
2020
  December 31,
2019
 
Commercial     15.91 %   19.28 %
Commercial Real Estate Construction     4.62 %   4.56 %
Commercial Real Estate Other     45.57 %   52.48 %
Consumer Real Estate     22.39 %   21.72 %
Consumer Other     1.40 %   1.96 %
Paycheck protection program     10.11 %   0.00 %
Total     100.00 %   100.00 %