Note 17 - Related Party Transactions

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 17 – Related Party Transactions

In the ordinary course of business, loans are granted to executive officers, directors, and their related entities. Management believes that all such loans are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans to similar, unrelated borrowers, and do not involve more than a normal risk of collectability or present other unfavorable features. As of December 31, 2022 and 2021, none of these loans was restructured, past due, or on nonaccrual status.

An analysis of these loans for 2022 is as follows (dollars in thousands):

Balance at December 31, 2021	$	15,853
Additions		3,907
Repayments		(1,816	)
Reclassifications(1)		6,532
Balance at December 31, 2022	$	24,476

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(1) Includes loans to two new board members who joined the Company during the year.

Related party deposits totaled $9.5 million at December 31, 2022 and $10.9 million at December 31, 2021.