Note 24 - Related Party Transactions

12 Months Ended

Dec. 31, 2024

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 24 Related Party Transactions

In the ordinary course of business, the Bank has extended loans to executive officers, directors, and their affiliates (related parties). These loans are made on substantially the same terms and conditions as those prevailing at the time for comparable transactions with outsiders and are not considered to involve more than the normal risk of collectability. The following table presents the activity associated with loans made between related parties at  December 31, 2024 and 2023:

	Year ended December 31,
(dollars in thousands)	2024			2023
Beginning balance	$	1,035		$	130
New loans and advances		188			1,313
Repayments		(302	)		(665	)
Changes to related parties (1)		—			257
Ending balance	$	921		$	1,035

⁽¹⁾ Represents changes related to directors that were added to the Board during the year.

Deposits from related parties held by the Bank at  December 31, 2024 and 2023, amounted to $1.8 million and $0.7 million, respectively.