LOANS HELD FOR SALE

6 Months Ended

Jun. 30, 2021

LOANS HELD FOR SALE [Abstract]

LOANS HELD FOR SALE

3. LOANS HELD FOR SALE

SBA and Agriculture Loans

As of June 30, 2021 and December 31, 2020, the Company had approximately $8.0 million and $8.3 million, respectively, of SBA loans included in loans held for sale.  As of June 30, 2021 and December 31, 2020, the principal balance of SBA loans serviced for others was $3.7 million and $4.0 million, respectively.

The Company’s agricultural lending program includes loans for agricultural land, agricultural operational lines, and agricultural term loans for crops, equipment, and livestock.  The primary products are supported by guarantees issued from the USDA, FSA, and the USDA Business and Industry loan program.

As of June 30, 2021 and December 31, 2020, the Company had $19.3 million and $22.9 million of USDA loans included in loans held for sale, respectively. As of June 30, 2021 and December 31, 2020, the principal balance of USDA loans serviced for others was $0.8 million.