Related Party Transactions

12 Months Ended

Dec. 31, 2022

Note M - Related Party Transactions

Certain directors, executive officers and companies with which they are affiliated were loan customers during 2022. A summary of activity on these borrower relationships with aggregate debt greater than $120 is as follows:

Total loans at January 1, 2022	$	17,848
New loans		35
Repayments		(1,388	)
Other changes		201
Total loans at December 31, 2022	$	16,696

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 2022 and 2021 were $91,782 and $110,405. In addition, the Company had promissory notes outstanding with directors and their affiliates totaling $2,376 at year-end 2022 and $2,138 at year-end 2021. The interest rates ranged from 1.00% to 3.25%, with terms ranging from 12 to 24 months.