Related-Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related-Party Transactions

NOTE 11 – RELATED-PARTY TRANSACTIONS

In the ordinary course of business, loans are made by the Bank to executive officers, directors, their immediate family members, and their related business interests consistent with Federal Reserve Regulation O and GAAP definition of related parties.

The following is an analysis of activity of related-party loans for the years ended December 31:

(Dollars in thousands)	2023		2022
Balance at beginning of year	$	332	$	46
New loans and advances		23		319
Repayments, including loans sold		50		33
Balance at end of year	$	305	$	332

Deposits from executive officers, directors, their immediate family members, and their related business interests on December 31, 2023, and 2022 were approximately $9.3 million and $6.2 million.