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Note 14 - Transactions with Executive Officers, Directors, and Principle Stockholders
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

Note 14 – Transactions with Executive Officers, Directors and Principal Stockholders

 

Loans to principal officers, directors, and their affiliates during the years ended December 31, 2024 and 2023 were as follows:

 

  

2024

  

2023

 
  

(dollars in thousands)

 

Balance, January 1

 $20,323  $16,266 

Originations and drawdowns

  7,907   9,801 

Repayments

  (4,866)  (5,744)

Balance, December 31

 $23,364  $20,323 

 

Deposits from principal officers, directors, and their affiliates as of December 31, 2024 and 2023 were $51.9 million and $32.3 million respectively.

 

The Company has had, and may be expected to have in the future, banking transactions in the ordinary course of business with its executive officers, directors, principal stockholders, their immediate families and affiliated companies (commonly referred to as related parties). The Company leases banking offices from related party entities. In addition, the Company also utilizes an advertising and public relations agency at which one of the Company’s directors is President and CEO and a principal owner. For these transactions, the expenses are not significant to the operations of the Company.