LOANS

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

LOANS

LOANS

(dollars in thousands)	March 31, 2024				December 31, 2023
Commercial and industrial loans:
Working capital lines of credit loans	$	646,459	12.9	%	$	604,893	12.3	%
Non-working capital loans	830,817		16.6		815,871		16.6
Total commercial and industrial loans	1,477,276		29.5		1,420,764		28.9
Commercial real estate and multi-family residential loans:
Construction and land development loans	659,712		13.2		634,435		12.9
Owner occupied loans	833,410		16.7		825,464		16.8
Nonowner occupied loans	744,346		14.9		724,101		14.7
Multifamily loans	239,974		4.8		253,534		5.1
Total commercial real estate and multi-family residential loans	2,477,442		49.6		2,437,534		49.5
Agri-business and agricultural loans:
Loans secured by farmland	167,271		3.3		162,890		3.3
Loans for agricultural production	200,581		4.0		225,874		4.6
Total agri-business and agricultural loans	367,852		7.3		388,764		7.9
Other commercial loans:	120,302		2.4		120,726		2.5
Total commercial loans	4,442,872		88.8		4,367,788		88.8
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	260,633		5.2		258,103		5.2
Open end and junior lien loans	188,927		3.8		189,663		3.9
Residential construction and land development loans	10,956		0.2		8,421		0.2
Total consumer 1-4 family mortgage loans	460,516		9.2		456,187		9.3
Other consumer loans	97,369		2.0		96,022		1.9
Total consumer loans	557,885		11.2		552,209		11.2
Subtotal	5,000,757		100.0	%	4,919,997		100.0	%
Less: Allowance for credit losses	(73,180)				(71,972)
Net deferred loan fees	(3,198)				(3,463)
Loans, net	$	4,924,379			$	4,844,562

The recorded investment in loans does not include accrued interest, which totaled $22.7 million and $21.5 million as of March 31, 2024 and December 31, 2023, respectively.

The Company had $417,000 and $238,000 in residential real estate loans in the process of foreclosure as of March 31, 2024 and December 31, 2023, respectively.