Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions

14.RELATED PARTY TRANSACTIONS

Loans to principal officers, directors, and their affiliates during 2023 and 2022 were as follows:
 

	2023			2022
Beginning balance	$	1,853		$	6,376
New loans		659			407
Effect of changes in composition of related parties		38,536			(4,654	)
Net repayments in existing accounts		(299	)		(276	)
Ending balance	$	40,749		$	1,853

Deposits from principal officers, directors, and their affiliates as of December 31, 2023 and 2022 were $76,010 and $65,236, respectively.

Two companies owned by a Director of the Company invested in the subordinated debentures issued by the Company in 2022. Refer to Note 10 for further information.