Transactions with Related Parties

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Transactions with Related Parties

Transactions with Related Parties

The Company has had, and is expected to have in the future, banking transactions in the ordinary course of business with principal stockholders, directors, principal officers, their immediate families and affiliated companies in which they are principal stockholders (commonly referred to as related parties). In the opinion of management, these transactions were made on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated parties and do not represent more than the normal risk of collectability or present other unfavorable features.

Aggregate loan transactions with related parties for the years ended December 31 were as follows:

	2023		2022
	(Dollars in thousands)
Balance, January 1,	$	292	$	1,146
New loans and advances on lines	9		1,032
Repayments	(36)		(957)
Other, net	—		(929)
Balance, December 31,	$	265	$	292
Balance available on lines of credit or loan commitments	$	156	$	133

There were no loans to related parties that were past due, in nonaccrual status or that had been restructured to provide a reduction or deferral of interest or principal because of deterioration in the financial position of the borrower, or that were considered classified at December 31, 2023 or 2022.

Deposit accounts of related parties were $1.3 million and $1.0 million at December 31, 2023 and 2022, respectively. Union's Wealth Management Group also had invested $77 thousand and $139 thousand in certificates of deposit with Union at December 31, 2023 and 2022, respectively.