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Transactions with Related Parties

12 Months Ended

Dec. 31, 2024

Transactions with Related Parties

Transactions with Related Parties

2. Transactions with Related Parties

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In the normal course of business, the Company makes loans to executive officers and directors of the Company and its subsidiary. These loans are made on terms no less favorable to the Company than those prevailing at the time for comparable transactions with unrelated persons or, in the case of certain residential real estate loans, on terms that are widely available to employees of the Company who are not directors or executive officers.

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Changes in the loans to such executive officers and directors during 2024, 2023 and 2022 were as follows:

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​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(dollars in thousands)		2024			2023			2022
Balance at beginning of year	​	$	53,032	​	$	57,247	​	$	86,035
New loans made	​	​	7,621	​	​	5,884	​	​	10,776
Repayments	​	​	(5,793)	​	​	(10,099)	​	​	(39,564)
Balance at end of year	​	$	54,860	​	$	53,032	​	$	57,247

​

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- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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