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RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2023
RELATED PARTY TRANSACTIONS [Abstract]  
RELATED PARTY TRANSACTIONS
16. RELATED PARTY TRANSACTIONS


Certain executive officers and directors of the Company, or companies in which they have 10 percent or more beneficial ownership, were indebted to the Bank. A summary of loan activity for the years ended December 31, 2023 and 2022 with officers, directors, stockholders and associates of such persons is listed below (in thousands):

 
Year Ended December 31,
  
   
2023
    
2022
  
Balance, beginning of year
  
$
9,592
    
$
11,680
  
New loans
    
7,786
      
5,199
  
Repayments
    
(4,463
)
    
(7,287
)
Balance, end of year
  
$
12,915
    
$
9,592
  
                 
Letter of credit
   $ 1,663     $ -