Note 18 - Related Party Transactions

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note 18. Related Party Transactions

The Company engages in transactions with related parties in the normal course of business. Related parties include directors, executive officers, and principal shareholders and their immediate family members, business interests, and affiliates. All related party transactions are made on terms that are substantially the same as those prevailing at the time for similar transactions with unrelated parties, including interest rates and collateral. The following table presents the changes in loans with related parties during the periods indicated:

	Year Ended December 31,
	2022			2021
(Amounts in thousands)
Beginning balance	$	33,740		$	20,166
New loans and advances		7,768			4,476
Loan repayments		(15,979	)		(4,139	)
Reclassifications(1)		5,452			13,237
Ending balance	$	30,981		$	33,740

(1) Changes related to the composition of the Company's directors, executive officers, and related insiders

Deposits from related parties totaled $14.59 million  as of December 31, 2022, and $11.92 million  as of December 31, 2021. Legal fees paid to related parties totaled $41 thousand in 2022, $80 thousand in 2021, and $70 thousand  in 2020. There were no lease payments paid to related parties in 2022, 2021, or 2020. Other expense paid to related parties totaled $53 thousand in 2022, $104 thousand in 2021, and $68 thousand in 2020.