Commitments, Contingencies and Indemnifications

6 Months Ended

Jun. 30, 2024

Commitments, Contingencies and Indemnifications

Commitments, Contingencies and Indemnifications

Note 24. Commitments, Contingencies and Indemnifications

Litigation

The Company may be subject to litigation and administrative proceedings arising in the ordinary course of business and as such, has entered into agreements which provide for indemnifications against losses, costs, claims, and liabilities arising from the performance of individual obligations under such agreements. Such indemnification obligations may not be subject to maximum loss clauses. Historically, payments related to these indemnification obligations have not been material to the Company. Management is not aware of any other contingencies that would require accrual or disclosure in the consolidated financial statements.

Unfunded Loan Commitments

The table below presents unfunded loan commitments.

(in thousands)	June 30, 2024		December 31, 2023
Loans, net	$	520,855	$	745,782
Loans, held for sale	$	116,544	$	19,327
Preferred equity investment	$	279	$	436