Note 4 - Related Party Transactions

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 4: Related Party Transactions

In the ordinary course of business, the Company, through its banking subsidiary, grants loans to related parties, including executive officers and directors of NBI and its subsidiaries. Total funded credit extended to related parties amounted to $15,131 as of December 31, 2024 and $15,409 as of December 31, 2023. During 2024, total principal additions were $832 and principal payments were $1,106. During 2023, total principal additions totaled $4,751 and principal payments were $7,529.

The Company held $15,583 in deposits for related parties as of December 31, 2024 and $17,117 as of December 31, 2023.

The Company has also contracted with a director's firm to prepare architectural plans for a new office in Roanoke, Virginia. The arrangement is at arms-length and the Company paid the director's firm $39 in 2024 and $79 in 2023.