RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

Some of the Corporation's directors, executive officers, and their related interests had transactions with the Bank in the ordinary course of business. All loan and deposit transactions were made on substantially the same terms, such as interest rates and collateral, as those prevailing at the time for comparable transactions. In the opinion of management, these transactions do not involve more than the normal risk of collectability nor do they present other unfavorable features. It is anticipated that similar transactions will be entered into in the future.

Loans to principal officers, directors, and their affiliates during the three months ended September 30, 2024 were as follows:

Beginning balance	$	28,295
New loans and advances	1,013
Effect of changes in composition of related parties	—
Repayments	(612)
Ending balance	$	28,696

Loans to principal officers, directors, and their affiliates during the nine months ended September 30, 2024 were as follows:

Beginning balance	$	40,129
New loans and advances	1,167
Effect of changes in composition of related parties	2,860
Repayments	(15,460)
Ending balance	$	28,696

Deposits from directors, executive officers, and their affiliates were $12.3 million and $11.4 million at September 30, 2024 and December 31, 2023, respectively.