SIERRA BANCORP | 2013 | FY | 3


The composition of the loan and lease portfolio is as follows (dollars in thousands):
 
 
 
December 31,
 
 
 
2013
 
2012
 
Real estate:
 
 
 
 
 
 
 
Secured by residential, commercial and professional office properties,
 
 
 
 
 
 
 
including construction and development
 
$
318,383
 
$
303,424
 
Secured by residential properties
 
 
150,952
 
 
170,514
 
Secured by farm land
 
 
108,504
 
 
71,851
 
 
 
 
 
 
 
 
 
Total Real Estate Loans
 
 
577,839
 
 
545,789
 
 
 
 
 
 
 
 
 
Agricultural
 
 
25,180
 
 
22,482
 
Commercial and industrial
 
 
158,756
 
 
257,896
 
Small Business Administration loans
 
 
14,905
 
 
20,523
 
Direct Financing leases
 
 
3,026
 
 
4,233
 
Consumer
 
 
23,536
 
 
28,872
 
 
 
 
 
 
 
 
 
Total Loans
 
 
803,242
 
 
879,795
 
 
 
 
 
 
 
 
 
Deferred loan and lease origination cost, net
 
 
1,522
 
 
1,156
 
Allowance for loan and lease losses
 
 
(11,677)
 
 
(13,873)
 
 
 
 
 
 
 
 
 
Loans, net
 
$
793,087
 
$
867,078
 

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