Note 23 - Related Party Transactions

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE

23

. RELATED PARTY TRANSACTIONS

Some of the directors and executive officers (and their associated or affiliated companies) were customers of and had banking transactions with us in the ordinary course of our business and we expect to have such transactions in the future. All deposits, loans and commitments to fund loans included in such transactions were made in compliance with the applicable laws on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons of similar creditworthiness.

The following table presents a summary of aggregate activity involving related party borrowers for the years ended

December 31, 2019

and

2018.

(Amounts in thousands)	2019			2018
Balance at beginning of year	$	9,490		$	13,230
New loan additions		3,513			—
Advances on existing lines of credit		213			31,281
Principal repayments		(9,449	)		(34,150	)
Reclassifications (1)		—			(871	)
Balance at end of year	$	3,767		$	9,490

(

1

)

Represents loans that were once considered related party but are

no

longer considered related party, or loans that were

not

related party that subsequently became related party loans.

At

December 31, 2019

and

2018,

deposits of related parties amounted to

$12.0

million and

$11.8

million, respectively. As of

December 31, 2019

and

2018,

there were

no

related party loans which were past due or adversely classified. At

December 31, 2019

and

2018

there was

$11.1

million, and

$9.9

million, respectively, in outstanding loan commitments to related parties. In our opinion, these transactions did

not

involve more than a normal risk of collectability or present other unfavorable terms.