8. Loans

The loan portfolio of the Company consists of the following (in thousands):


	March 31,		December 31,
	2020		2019
Commercial:
Commercial and industrial	$	166,911	$	173,922
Commercial loans secured by owner occupied real estate		87,310		91,655
Commercial loans secured by non-owner occupied real estate		370,266		363,635
Real estate – residential mortgage		230,207		235,239
Consumer		17,955		18,255
Loans, net of unearned income	$	872,649	$	882,706

Loan balances at March 31, 2020 and December 31, 2019 are net of unearned income of $406,000 and $384,000, respectively. Real estate construction loans comprised 5.4% and 4.9% of total loans, net of unearned income at March 31, 2020 and December 31, 2019, respectively.

The effects of the COVID-19 pandemic are not fully reflected in the Company’s first quarter operating results. Certain loans within our commercial and commercial real estate portfolios are expected to be disproportionately adversely affected by the pandemic. Due to mandatory lockdowns and travel restrictions, certain industries, such as hospitality, travel, food service and restaurants and bars, may suffer greater losses as a result of COVID-19. The following table provides information regarding our potential COVID-19 risk concentrations for commercial and commercial real estate loans by industry type at March 31, 2020 (in thousands).


			Commercial loans		Commercial loans
	Commercial		secured by owner		secured by non-owner
	and industrial		occupied real estate		occupied real estate		Total
1-4 unit residential	$	1,603	$	133	$	3,439	$	5,175
Multifamily/apartments/student housing		—		359		53,065		53,424
Office		37,929		10,280		38,218		86,427
Retail		4,129		21,333		108,763		134,225
Industrial/manufacturing/warehouse		101,464		17,698		40,115		159,277
Hotels		419		—		45,764		46,183
Eating and drinking places		887		4,434		597		5,918
Amusement and recreation		210		3,384		57		3,651
Mixed use		—		1,574		65,631		67,205
Other		20,270		28,115		14,617		63,002
Total	$	166,911	$	87,310	$	370,266	$	624,487