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Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions  
Related Party Transactions

Note 21—Related Party Transactions

During 2024 and 2023, the Company’s banking subsidiary had loan and deposit relationships with certain related parties, principally directors and executive officers, their immediate families and their business interests. All of these relationships were in the ordinary course of business at rates and terms substantially consistent with similar transactions with unrelated parties. Loans outstanding to this group (including immediate families and business interests) totaled $12.3 million and $9.4 million at December 31, 2024 and 2023, respectively. During 2024, $7.6 million of new loans were made to this group while repayments of $4.7 million were received during the year. There were no additions or reductions in loans in 2024 related to changes in related parties. During 2023, $5.2 million of new loans were made to this group while repayments of $1.8 million were received during the year. There were also additions to related party loans of $652,000 due to the addition of new related parties in 2023, and reductions to related party loans of $488,000 due to the removal of related parties in 2023. Related party deposits totaled approximately $29.5 million and $31.9 million at December 31, 2024 and 2023, respectively.