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Note 4 - Loans Receivable

12 Months Ended

Dec. 31, 2020

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4.	Loans Receivable

The following table sets forth the Company’s gross loans by major categories as of December 31, 2020 and 2019:

(dollars in thousands)	December 31, 2020			December 31, 2019

Commercial real estate	$	705,748		$	613,631
Construction and land development		142,821			121,395
Commercial and industrial		200,188			223,906
Owner occupied real estate		475,206			424,400
Consumer and other		102,368			101,320
Residential mortgage		395,174			263,444
Paycheck protection program		636,637			-
Total loans receivable		2,658,142			1,748,096
Deferred costs (fees)		(12,800	)		99
Allowance for loan losses		(12,975	)		(9,266	)
Net loans receivable	$	2,632,367		$	1,738,929

The Company disaggregates its loan portfolio into groups of loans with similar risk characteristics for purposes of estimating the allowance for loan losses. The Company’s loan groups include commercial real estate, construction and land development, commercial and industrial, owner occupied real estate, consumer, residential mortgages, and loans issued under the Paycheck Protection Program (“PPP”). PPP loans are fully guaranteed by the U.S. Government and as such have no allowance associated with them. The loan groups are also considered classes for purposes of monitoring and assessing credit quality based on certain risk characteristics.

Included in loans are loans due from directors and other related parties of $14.9 million at December 31, 2020, $13.6 million at December 31, 2019, and $13.0 million at December 31, 2018. The Board of Directors approves loans to individual directors to conform to our underwriting policies. The following presents the activity in amount due from directors and other related parties for the years ended December 31, 2020, 2019, and 2018.

(dollars in thousands)	December 31, 2020			December 31, 2019			December 31, 2018
Balance at beginning of year	$	13,593		$	13,029		$	8,920
Additions		2,838			2,064			4,812
Repayments		(1,491	)		(1,500	)		(703	)
Balance at end of year	$	14,940		$	13,593		$	13,029