Related-Party Transactions

12 Months Ended

Dec. 31, 2019

Note 13: Related‑Party Transactions

In the ordinary course of business, the Company has granted loans to executive officers, directors, principal shareholders, and their affiliates (related parties). The following table presents the activity associated with loans made between related parties for the years ended December 31, 2019 and 2018:


	2019		2018
Beginning Balance	$	39,454	$	11,344
New Loans and Advances		13,298		35,761
Repayments		(15,269)		(7,653)
Changes to Related Parties		-		2
Totals	$	37,483	$	39,454

Deposits from related parties held by the Company at December 31, 2019 and 2018 were $11,223 and $8,856, respectively.

The Company has a related party lease which is disclosed in Note 6.

A member of the Company’s board of directors, David J. Volk, is a principal at Castle Creek Capital, LLC, which is the sole general partner of Castle Creek Capital Partners V, LP. During 2018, the Company entered into an Exchange Agreement with Castle Creek Capital Partners V, LP providing for the exchange of 1,431,796 shares of the Company’s non-voting common stock for 1,431,796 shares of the Company’s voting common stock.