NOTE 3: LOANS

Loans by portfolio segment as of the dates shown below are summarized as follows:



(Dollars in thousands)	March 31, 2018				December 31, 2017
Commercial and industrial	$	559,070	23.7	%	$	559,363	24.1	%
Real estate:
Commercial real estate		767,108	32.5	%		738,293	31.9	%
Construction and development		436,260	18.5	%		449,211	19.4	%
1-4 family residential		260,580	11.0	%		258,584	11.2	%
Multi-family residential		236,000	10.0	%		220,305	9.5	%
Consumer		40,869	1.7	%		40,433	1.7	%
Agriculture		8,807	0.4	%		11,256	0.5	%
Other		52,382	2.2	%		40,344	1.7	%
Total gross loans		2,361,076	100.0	%		2,317,789	100.0	%
Less deferred loan fees		(4,682)				(4,555)
Less unearned discount on retained portion of loans sold		(228)				(230)
Less allowance for loan loss		(25,349)				(24,778)
Total loans, net		2,330,817				2,288,226
Less loans held for sale		113				1,460
Loans, net	$	2,330,704			$	2,286,766

Accrued interest receivable for loans is $6.1 million and $6.1 million at March 31, 2018 and December 31, 2017, respectively and is included in other assets in the condensed consolidated balance sheets.

Loan Participations Purchased and Sold

From time to time, the Company will acquire and dispose of interests in loans under participation agreements with other financial institutions. Loan participations purchased and sold during the three months ending March 31, 2018 and 2017, by loan class, are summarized as follows:


	Participations		Participations
	Purchased		Sold
	During the		During the
(Dollars in thousands)	Period		Period
March 31, 2018
Commercial and industrial	$	7,000	$	—
Commercial real estate		—		7,500
	$	7,000	$	7,500
March 31, 2017
Commercial real estate	$	—	$	5,934
Construction and development		205		—
	$	205	$	5,934

Loans Guaranteed by the Small Business Administration

The Company participates in the Small Business Administration, or SBA, loan program. When advantageous, the Company will sell the guaranteed portions of these loans with servicing retained. SBA loans that were sold with servicing retained during the three months ended March 31, 2018 and 2017 were totaled $237,000 and $568,000, respectively.