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Transactions with Related Persons

12 Months Ended

Dec. 31, 2021

TRANSACTIONS WITH RELATED PERSONS

BancShares has, and expects to have in the future, banking transactions in the ordinary course of business with directors, officers and their associates (“Related Persons”) and entities controlled by Related Persons.

For those identified as Related Persons as of December 31, 2021, the following table provides an analysis of changes in the loans outstanding during 2021 and 2020:


	Year ended December 31
(dollars in thousands)	2021		2020
Balance at January 1	$	117	$	145
New loans	21		19
Repayments	(16)		(47)
Balance at December 31	$	122	$	117

The amounts presented exclude loans to Related Persons for credit card lines of $15,000 or less, overdraft lines of $5,000 or less and intercompany transactions between the Parent Company and FCB.

Unfunded loan commitments available to Related Persons were $2.7 million and $2.6 million as of December 31, 2021 and 2020, respectively.

During the year ended December 31, 2020, the Parent Company repurchased 45,000 shares of its outstanding Class A common stock from Ella Anna Holding, as trustee of her revocable trust. Mrs. Holding is the widow of the Parent Company’s former Executive Vice Chairman, Frank B. Holding, and the mother of Frank B. Holding, Jr. and Hope H. Bryant, BancShares’ Chairman and Chief Executive Officer and Vice Chairman, respectively. No shares were repurchased during the year ended December 31, 2021.