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Related party transactions
 12 Months Ended
Dec. 31, 2024
Related party transactions  
Related party transactions
The detail of the assets and liabilities with related private corporations and financial institutions is as follows:
December 31,
20242023
Assets:
Demand deposits1,509 2,263 
Loans, net179,235 61,440 
Securities at amortized cost, net21,095 14,373 
Total201,839 78,076 
Liabilities:
Time deposits574,360 319,344 
Contingencies:
Stand-by letters of credit1,646 150 
The detail of income and expenses with related parties is as follows:
December 31,
202420232022
Interest income:
Loans10,276 3,104 4,719 
Securities at amortized cost777 331 685 
Total11,053 3,435 5,404 
Interest expense:
Deposits(35,425)(14,477)(10,943)
Net interest income (expenses)(24,372)(11,042)(5,539)
Other income (expense):
Fees and commissions, net3 427 116 
Loss on financial instruments, net— — 74 
Total3 427 190 
Net income (loss) from related parties(24,369)(10,615)(5,349)
The total compensation paid to directors and the executives as representatives of the Bank amounted to:
December 31,
202420232022
Expenses:
Compensation costs to directors2,391 1,910 1,853 
Compensation costs to executives11,461 8,067 4,302 
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 28.
Loans and deposits to/from related parties were made at rates comparable to market rates of interest.