4. LOANS

Major classes of loans are as follows:


	June 30, 2018		December 31, 2017
Commercial, financial and agricultural:
Owner-occupied commercial real estate	$	1,366,814	$	1,361,629
Nonowner-occupied commercial real estate		4,435,910		4,451,298
Other commercial loans		2,209,191		1,998,979

Total commercial, financial & agricultural		8,011,915		7,811,906
Residential real estate		3,300,472		2,996,171
Construction & land development		1,396,853		1,504,907
Consumer:
Bankcard		9,717		10,314
Other consumer		810,051		704,039

Total gross loans	$	13,529,008	$	13,027,337

The table above does not include loans held for sale of $285,194 and $265,955 at June 30, 2018 and December 31, 2017, respectively. Loans held for sale consist of single-family residential real estate loans originated for sale in the secondary market.

The outstanding balances in the table above include previously acquired impaired loans with a recorded investment of $168,497 or 1.25% of total gross loans at June 30, 2018 and $210,521 or 1.62% of total gross loans at December 31, 2017. The contractual principal in these acquired impaired loans was $221,983 and $285,964 at June 30, 2018 and December 31, 2017, respectively. The balances above do not include future accretable net interest (i.e. the difference between the undiscounted expected cash flows and the recorded investment in the loan) on the acquired impaired loans.

Activity for the accretable yield for the first six months of 2018 follows:


Accretable yield at the beginning of the period	$	39,098
Accretion (including cash recoveries)		(8,371	)
Additions		0
Net reclassifications to accretable from non-accretable		9,803
Disposals (including maturities, foreclosures, and charge-offs)		(3,323	)

Accretable yield at the end of the period	$	37,207

United’s subsidiary bank has made loans to the directors and officers of United and its subsidiaries, and to their affiliates. The aggregate dollar amount of these loans was $32,506 and $36,360 at June 30, 2018 and December 31, 2017, respectively.