Related Party Transactions

12 Months Ended

Dec. 31, 2022

The Company has entered into transactions with certain directors, executive officers and its affiliates or associates (related parties). Such transactions were made in the ordinary course of business on substantially the same terms and conditions, including interest rates, as those prevailing at the same time for comparable transactions with other customers. The aggregate amount of loans to such related parties at December 31, 2022 and 2021 was approximately $7,988,000 and $9,080,000, respectively.

Annual activity consisted of the following:


	2022		2021

Balance, beginning of the year	$	9,080	$	9,111
New loans	—		—
Change in composition	—		(28)
Repayments	(1,092)		(3)
Balance, end of the year	$	7,988	$	9,080

Deposits from related parties held by the Company at December 31, 2022 and 2021 totaled $5,317,000 and $5,499,000, respectively.