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RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

NOTE 17 – RELATED PARTY TRANSACTIONS

Certain directors and executive officers, including companies in which they are officers or have significant ownership, were loan and deposit customers during 2021 and 2020.

A summary of loans to our directors and executive officers (which includes loans to entities in which the individual owns a 10% or more voting interest) for the years ended December 31 follows:

	2021			2020
	(In thousands)

Balance at beginning of year	$	2,416		$	13,077
New loans and advances		5,722			417
Repayments		(1,259	)		(11,078	)
Balance at end of year	$	6,879		$	2,416

We had $1.9 million and $1.74 million in loan commitments to directors and executive officers at December 31, 2021 and 2020, respectively. Of these, commitments of $0.02 million and $0.04 million were outstanding at December 31, 2021 and 2020, respectively, and included in the table above.

Deposits held by us for directors and executive officers totaled $3.4 million and $2.0 million at December 31, 2021 and 2020, respectively.