Related Party Transactions

12 Months Ended

Dec. 31, 2022

Related Party Transactions

Related Party Transactions

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, 2022 and 2021:

	Year ended December 31,
(dollars in thousands)	2022		2021
Beginning balance	$	34	$	254
New loans and advances		145		132
Repayments		(95)		(352)
Changes to related parties (1)		46		—
Ending balance	$	130	$	34

(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, 2022 and 2021, amounted to $587 thousand and $3.6 million, respectively.