Note 12 - Related Party Transactions

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 12 - Related Party Transactions

Certain directors and executive officers are also customers who transact business with First Fed. All loans and commitments included in such transactions were made in compliance with applicable laws on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons and do not involve more than the normal risk of collectability or present any other unfavorable features.

The following table presents the activity in loans to directors and executive officers for the periods shown:

	For the Year Ended December 31,
	2021			2020
	(In thousands)
Beginning balance	$	143		$	689
Loan advances		1			4
Loan repayments		(11	)		(550	)
Reclassifications (1)		(133	)		—
Ending balance	$	—		$	143
(1) Represents loans that were once considered related party but are no longer considered related party or loans that were not related party that subsequently became related party loans.

Deposits and certificates from related parties totaled $3.2 million and $3.0 million at December 31, 2021 and 2020, respectively.