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RELATED-PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED-PARTY TRANSACTIONS RELATED-PARTY TRANSACTIONS
The Bank extends credit to certain covered parties including Company directors, executive officers, and their affiliates. As of December 31, 2024 and 2023, there were no delinquent or non-performing loans to any executive officer or director of the Company. These covered parties, along with principal owners, management, immediate family of management or principal owners, a parent company and its subsidiaries, trusts for the benefit of employees, and other parties, may be considered related parties. The following table presents a summary of related-party loan activity for the fiscal years then ended:
Year Ended December 31,
(dollars in thousands)
20242023
Balance at beginning of year$25,358 $16,859 
Funded loans12,515 13,427 
Payments collected(29,384)(5,212)
Changes in related parties(3,757)284 
Balance at end of period$4,732 $25,358 
Deposits from related parties held by the Bank as of December 31, 2024 and 2023 totaled $16.4 million and $16.3 million, respectively.
The Company leases office spaces from entities controlled by one of the Company’s Board of Director members. During each of the years ended December 31, 2024 and 2023, the Company incurred $0.2 million of expense related to these leases.
The Company earned trust and investment management fees of $0.1 million from related parties during each of the years ended December 31, 2024 and 2023. Assets under management for those related parties totaled $113.2 million and $111.6 million as of December 31, 2024 and 2023, respectively.