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Related Party Transactions

3 Months Ended

Mar. 31, 2021

NOTE 11 – RELATED PARTY TRANSACTIONS

A summary of loans to directors, executive officers, and their affiliates follows:


	March 31, 2021			December 31, 2020
	(in thousands)
Beginning balance	$	1,034		$	1,172
New loans		11			512
Repayments		(61	)		(650	)

Ending balance	$	984		$	1,034

Deposits from directors, executive officers, and their affiliates totaled $1.1 million and $940,000 at March 31, 2021 and December 31, 2020, respectively.

The Company utilizes the services of law firms in which certain of the Company’s directors are partners. Fees paid to the firms for these services were $6,000 and $7,000 during the three months ended March 31, 2021 and 2020, respectively.