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RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Loans to principal officers, directors, and their affiliates as of December 31, 2024 and 2023 were as follows:
(dollars in thousands)20242023
Beginning balance$132,481 $113,435 
New loans and advances56,946 69,822 
Effect of changes in related parties0 230 
Repayments and renewals(57,693)(51,006)
Ending balance$131,734 $132,481 
Deposits from principal officers, directors, and their affiliates at year end 2024 and 2023 were $24.7 million and $22.5 million, respectively.
The Company and Bank are an investor in certain funds managed by Centerfield Capital ("Centerfield"), a private equity investment firm. Faraz Abbasi, a director of the Company, is a Managing Partner and an owner of Centerfield. As of December 31, 2024 and 2023, the Company had an aggregate investment balance of approximately $2.7 million and $3.0 million, respectively, in such funds, which are included in other assets on the consolidated balance sheet, and had remaining commitments to invest up to approximately $2.1 million and $2.3 million, respectively. Under the terms of the applicable funds, Centerfield is entitled to customary management fees with respect to the amounts under management and investment gains, and it is estimated that Mr. Abbasi’s interest in such fees was approximately $25,000 annually for the years ended December 31, 2024 and 2023.