Note 7 - Related Party Balances and Transactions

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

7. Related Party Balances and Transactions

In the ordinary course of business, the Bank maintains loan and deposit relationships with employees, principal officers and directors and their affiliates. The Bank has granted loans to principal officers and directors and their affiliates amounting to $4.8 million and $5.5 million at December 31, 2021 and 2020, respectively. During 2021, there were $187,000 of principal additions while total principal reductions associated with these loans were $902,000. Deposits from principal officers and directors and their affiliates held by the Bank at December 31, 2021 and 2020 totaled $3.0 million and $3.1 million, respectively.