LOANS

6 Months Ended

Jun. 30, 2024

Receivables [Abstract]

LOANS

LOANS

(dollars in thousands)	June 30, 2024				December 31, 2023
Commercial and industrial loans:
Working capital lines of credit loans	$	697,754	13.8	%	$	604,893	12.3	%
Non-working capital loans	828,523		16.4		815,871		16.6
Total commercial and industrial loans	1,526,277		30.2		1,420,764		28.9
Commercial real estate and multi-family residential loans:
Construction and land development loans	658,345		13.0		634,435		12.9
Owner occupied loans	830,018		16.4		825,464		16.8
Nonowner occupied loans	762,365		15.1		724,101		14.7
Multifamily loans	252,652		5.0		253,534		5.1
Total commercial real estate and multi-family residential loans	2,503,380		49.5		2,437,534		49.5
Agri-business and agricultural loans:
Loans secured by farmland	161,410		3.2		162,890		3.3
Loans for agricultural production	199,654		4.0		225,874		4.6
Total agri-business and agricultural loans	361,064		7.2		388,764		7.9
Other commercial loans:	96,703		1.9		120,726		2.5
Total commercial loans	4,487,424		88.8		4,367,788		88.8
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans	259,094		5.1		258,103		5.2
Open end and junior lien loans	197,861		3.9		189,663		3.9
Residential construction and land development loans	12,952		0.3		8,421		0.2
Total consumer 1-4 family mortgage loans	469,907		9.3		456,187		9.3
Other consumer loans	97,895		1.9		96,022		1.9
Total consumer loans	567,802		11.2		552,209		11.2
Subtotal	5,055,226		100.0	%	4,919,997		100.0	%
Less: Allowance for credit losses	(80,711)				(71,972)
Net deferred loan fees	(2,885)				(3,463)
Loans, net	$	4,971,630			$	4,844,562

The recorded investment in loans does not include accrued interest, which totaled $22.4 million and $21.5 million as of June 30, 2024 and December 31, 2023, respectively.

The Company had $325,000 and $238,000 in residential real estate loans in the process of foreclosure as of June 30, 2024 and December 31, 2023, respectively.