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CONCENTRATIONS OF CREDIT RISK
12 Months Ended
Dec. 31, 2021
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, 2021   December 31, 2020 
Commercial   14.94%   15.91%
Commercial Real Estate Construction   3.93%   4.62%
Commercial Real Estate Other   54.04%   45.57%
Consumer Real Estate   23.26%   22.39%
Consumer Other   1.23%   1.40%
Paycheck Protection Program   2.60%   10.11%
Total   100.00%   100.00%