Loans Receivable

3 Months Ended

Mar. 31, 2024

Loans and Leases Receivable Disclosure [Abstract]

LOANS RECEIVABLE

The portfolio segments and classes of loans are as follows:


(In Thousands)	March 31, 2024			December 31, 2023
Agriculture and farmland loans	$	67,359		$	65,861
Construction loans		194,391			178,483
Commercial & industrial loans		218,724			238,343
Commercial real estate loans
Multifamily		190,146			180,788
Owner occupied		489,467			501,732
Non-owner occupied		589,731			580,972
Residential real estate loans
First liens		403,300			402,433
Second liens and lines of credit		71,060			70,747
Consumer and other loans		16,810			16,756
Municipal loans		4,473			5,244
		2,245,461			2,241,359
Deferred costs		356			174
Allowance for credit losses		(23,842	)		(23,767	)
Total	$	2,221,975		$	2,217,766

The Company originates commercial, residential, and consumer loans within its primary market areas of southcentral and southeastern Pennsylvania, northern Virginia, eastern Maryland, Delaware, and southern New Jersey. A significant portion of the loan portfolio is secured by real estate.

At March 31, 2024 and December 31, 2023 the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process was $407 and $264, respectively.