Related Party Transactions

12 Months Ended

Dec. 31, 2021

15.

RELATED PARTY TRANSACTIONS

Loans to principal officers, directors, and their affiliates during 2021 were as follows:


	2021
Beginning balance	$	325
New loans		1,305
Effect of changes in composition of related parties		4,774
Net repayments in existing accounts		(28	)
Ending balance	$	6,376

Deposits from principal officers, directors, and their affiliates as of December 31, 2021 and 2020 were $34,211 and $2,874, respectively.

Two companies owned by a Director of the Company invested in the subordinated debentures issued by the Company. Refer to Note 11 for further information.