LOANS

3 Months Ended

Mar. 31, 2020

LOANS

LOANS

NOTE 3. LOANS

	March 31,				December 31,
(dollars in thousands)	2020				2019
Commercial and industrial loans:
Working capital lines of credit loans	$	730,767	17.9	%	$	709,849	17.5	%
Non-working capital loans		697,952	17.1			717,019	17.6
Total commercial and industrial loans		1,428,719	35.0			1,426,868	35.1
Commercial real estate and multi-family residential loans:
Construction and land development loans		334,524	8.2			287,641	7.1
Owner occupied loans		572,057	14.0			573,665	14.1
Nonowner occupied loans		584,418	14.3			571,364	14.0
Multifamily loans		269,479	6.6			240,652	5.9
Total commercial real estate and multi-family residential loans		1,760,478	43.1			1,673,322	41.1
Agri-business and agricultural loans:
Loans secured by farmland		145,542	3.5			174,380	4.3
Loans for agricultural production		183,855	4.5			205,151	5.0
Total agri-business and agricultural loans		329,397	8.0			379,531	9.3
Other commercial loans		104,286	2.5			112,302	2.8
Total commercial loans		3,622,880	88.6			3,592,023	88.3
Consumer 1-4 family mortgage loans:
Closed end first mortgage loans		173,431	4.3			177,227	4.4
Open end and junior lien loans		181,541	4.4			186,552	4.6
Residential construction and land development loans		12,146	0.3			12,966	0.3
Total consumer 1-4 family mortgage loans		367,118	9.0			376,745	9.3
Other consumer loans		97,096	2.4			98,617	2.4
Total consumer loans		464,214	11.4			475,362	11.7
Subtotal		4,087,094	100.0	%		4,067,385	100.0	%
Less: Allowance for loan losses		(53,609)				(50,652)
Net deferred loan fees		(1,356)				(1,557)
Loans, net	$	4,032,129			$	4,015,176

The recorded investment in loans does not include accrued interest.

The Company had $1.5 million in residential real estate loans in the process of foreclosure as of March 31, 2020, compared to $1.6 million as of December 31, 2019.