| LOANS |
LOANS Loans HFI, excluding loans measured at fair value, at December 31, 2025 and December 31, 2024 were as follows: | | | | | | | | | | | | | December 31,
2025 | | December 31,
2024 | Real estate: | | | | Residential | $ | 365,427 | | | $ | 330,870 | | Commercial | 215,771 | | | 305,721 | | Construction and land | 48,397 | | | 32,914 | | Commercial and industrial | 181,566 | | | 226,522 | | Commercial and industrial - PPP | 6 | | | 941 | | Consumer and other | 86,441 | | | 93,826 | | Loans HFI, excluding loans measured at fair value, gross | 897,608 | | | 990,794 | | Deferred loan costs, net | 16,371 | | | 19,499 | | Discount on government guaranteed loans(1) | (6,811) | | | (8,306) | | Premium on loans purchased, net | 2,650 | | | 3,739 | | Allowance for credit losses | (21,996) | | | (15,512) | | Net loans HFI, excluding loans measured at fair value | $ | 887,822 | | | $ | 990,214 | |
(1) The Company allocates the retained portion of loans sold based on relative fair value of the retained portion and the sold portion, which results in a discount on the retained portion.
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