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Related party transactions

12 Months Ended

Dec. 31, 2023

The detail of the assets and liabilities with related private corporations and financial institutions is as follows:


	December 31,
	2023	2022
Assets:
Demand deposits	2,263	5,986
Loans, net	61,440	242,024
Securities at amortized cost, net	14,373	19,593
Total	78,076	267,603

Liabilities:
Time deposits	319,344	567,451
Total	319,344	567,451

Contingencies:
Stand-by letters of credit	150	3,350
Loss allowance	—	(16)

The detail of income and expenses with related parties is as follows:


	December 31,
	2023	2022	2021
Interest income:
Loans	3,104	4,719	211
Securities at amortized cost	331	685	—
Total	3,435	5,404	211
Interest expense:
Deposits	(14,477)	(10,943)	(1,866)



Net interest income (expenses)	(11,042)	(5,539)	(1,655)

Other income (expense):
Fees and commissions, net	427	116	216
Loss on financial instruments, net	—	74	—

Total	427	190	216





Net income (loss) from related parties	(10,615)	(5,349)	(1,439)

The total compensation paid to directors and the executives as representatives of the Bank amounted to:


	December 31,
	2023	2022	2021
Expenses:
Compensation costs to directors	1,910	1,853	1,877
Compensation costs to executives	8,067	4,302	4,083

Compensation costs of Bank´s directors and executives include annual cash retainers and the cost of granted restricted stock and restricted stock units, as detailed in the Stock Incentive Plan, see Note 29.