Total loans increased by $17.7 million, or 13% when compared to December 31, 2020. Non-PPP loans generally yield significantly more than PPP loans, so this is an important growth point for the Bank in terms of income generation. However, during the third quarter of 2021, $7.2 million Paycheck Protection Program ("PPP") loans were forgiven bringing the balance of PPP loans down to $5.6 million, which means that non-PPP loans grew by approximately $7.3 million for the quarter. For the quarters ended Septemand June 30, 2021, total loans were relatively flat at $153.6 million and $153.5 million, respectively.
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