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Related party transactions | 12 Months Ended
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Dec. 31, 2023
Related party transactions |
Related party transactions | Related party transactions The detail of the assets and liabilities with related private corporations and financial institutions is as follows:
| December 31,
| 2023 |  | 2022
Assets: |  |  |
Demand deposits | 2,263 |  |  | 5,986 |
Loans, net | 61,440 |  |  | 242,024 |
Securities at amortized cost, net | 14,373 |  |  | 19,593 |
Total | 78,076 |  |  | 267,603 |
Liabilities: |  |  |
Time deposits | 319,344 |  |  | 567,451 |
Total | 319,344 |  |  | 567,451 |
Contingencies: |  |  |
Stand-by letters of credit | 150 |  |  | 3,350 |
Loss allowance | — |  |  | (16) |
The detail of income and expenses with related parties is as follows:
| December 31,
| 2023 |  | 2022 |  | 2021
Interest income: |  |  |  |  |
Loans | 3,104 |  |  | 4,719 |  |  | 211 |
Securities at amortized cost | 331 |  |  | 685 |  |  | — |
Total | 3,435 |  |  | 5,404 |  |  | 211 |
Interest expense: |  |  |  |  |
Deposits | (14,477) |  |  | (10,943) |  |  | (1,866) |
Net interest income (expenses) | (11,042) |  |  | (5,539) |  |  | (1,655) |
Other income (expense): |  |  |  |  |
Fees and commissions, net | 427 |  |  | 116 |  |  | 216 |
Loss on financial instruments, net | — |  |  | 74 |  |  | — |
Total | 427 |  |  | 190 |  |  | 216 |
Net income (loss) from related parties | (10,615) |  |  | (5,349) |  |  | (1,439) |
The total compensation paid to directors and the executives as representatives of the Bank amounted to:
| December 31,
| 2023 |  | 2022 |  | 2021
Expenses: |  |  |  |  |
Compensation costs to directors | 1,910 |  |  | 1,853 |  |  | 1,877 |
Compensation costs to executives | 8,067 |  |  | 4,302 |  |  | 4,083 |
Compensation costs of Bank´s directors and executives include annual cash retainers and the cost of granted restricted stock and restricted stock units, as detailed in the Stock Incentive Plan, see Note 29.

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