RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

NOTE 12 RELATED PARTY TRANSACTIONS

Officers, directors (and companies controlled by them), principal shareholders, and associates were customers of and had loan transactions with the Bank in the normal course of business. The following table summarizes these transactions, which were made on substantially the same terms as those prevailing for other customers and did not involve any abnormal risk.

	For the year ended December 31,
(Dollars in thousands)	2021			2020
Beginning balance	$	4,187		$	2,457
New loans and advances on lines		2,620			4,567
Payments and other reductions		(3,388	)		(2,837	)
Ending balance	$	3,419		$	4,187

Total related party deposits held at the Bank were $24.8 million and $21.5 million as of December 31, 2021 and 2020, respectively.

NPB Insurance Services, Inc. holds a 39% membership interest in Lonesome Pine Title Agency, LLC, which provides title insurance. Another member of the agency is a related party to the Company.

In August, 2021, the Bank sold a parcel of land, adjacent to the Grundy, Virginia office to a director for $150 thousand, which approximated the fair value of the property. A gain of $17 thousand was recorded from this transaction.