Related Party Transactions

12 Months Ended

Dec. 31, 2024

Related Party Transactions [Abstract]

Related Party Transactions

14.RELATED PARTY TRANSACTIONS

Loans to principal officers, directors, and their affiliates during 2024 and 2023 were as follows:
 

	2024			2023
Beginning balance	$	40,749		$	1,853
New loans		2,560			659
Effect of changes in composition of related parties		-			38,536
Net repayments in existing accounts		(9,976	)		(299	)
Ending balance	$	33,333		$	40,749

Deposits from principal officers, directors, and their affiliates as of December 31, 2024 and 2023 were $64.4 million and $76.0 million 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.