Related Party Transactions

12 Months Ended

Dec. 31, 2019

Related Party Transactions [Abstract]

Related Party Transactions

Note 4. Related Party Transactions

Loans outstanding to directors and executive officers and certain of their affiliates totaled $2.2 million and $2.5 million at December 31, 2019 and 2018, respectively.  Loan advances totaled $350,000 and repayments totaled $655,000 in the year ended December 31, 2019.  Adjustments were made to prior year amounts for loans that are no longer considered to be related party transactions.  Total deposits for directors and executive officers and their affiliates were $5.2 million and $4.8 million at December 31, 2019 and 2018, respectively.  In the opinion of management, these transactions were made in the ordinary course of business on substantially the same terms and conditions, including interest rates, collateral and repayment terms, as those prevailing at the same time for comparable transactions with unrelated persons and do not involve more than normal risk or present other unfavorable features.