Note M - Related Party Transactions

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note

M

- Related Party Transactions

Certain directors, executive officers and companies with which they are affiliated were loan customers during

2019.

A summary of activity on these borrower relationships with aggregate debt greater than

$120

is as follows:

Total loans at January 1, 2019	$	3,674
New loans		890
Repayments		(391	)
Other changes		(199	)
Total loans at December 31, 2019	$	3,974

Other changes include adjustments for loans applicable to

one

reporting period that are excludable from the other reporting period, such as changes in persons classified as directors, executive officers and companies’ affiliates.

Deposits from principal officers, directors, and their affiliates at year-end

2019

and

2018

were

$47,911

and

$52,877.

In addition, the Company had promissory notes outstanding with directors and their affiliates totaling

$3,558

at year-end

2019

and

2018.

The interest rates ranged from

1.50%

to

2.85%,

with terms ranging from

10

to

36

months.