Related Party Transactions

12 Months Ended

Dec. 31, 2019

NOTE 23 Related Party Transactions

In the ordinary course of business, the Bank has granted 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, 2019 and 2018:


	Year ended December 31,
(dollars in thousands)	2019		2018
Beginning balance	$	12,611	$	19,905
New loans and advances		498		837
Repayments		(588)		(3,346)
Changes to related parties (1)		(12,214)		(4,785)
Ending balance	$	307	$	12,611

(1)

Represents changes related to directors that retired from our Board during the year.

Deposits from related parties held by the Bank at December 31, 2019 and 2018 amounted to $0.5 million and $5.6 million, respectively.