LoansTotal loans and leases, net of deferred fees and discount, of $3.39 billion at June 30, 2012, decreased by $94.7 million, or 2.72%, from $3.48 billion at December 31, 2011. We attribute the vast majority of this decrease to the following:
- $62.3 million to the non-covered dairy and livestock portfolio. Historically, our dairy and livestock customers have seasonal borrowing patterns and tend to draw down on available lines of credit in the fourth quarter and repay these advances in the second quarter.
- $7.8 million decline in non-covered construction loans.
- $14.0 million decline in purchased mortgage pools.
- $52.4 million decrease in covered loans.