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RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2021
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS

NOTE 25 – RELATED PARTY TRANSACTIONS

Loans

As of December 31, 2021 and 2020, loans to directors, executive officers, principal shareholders and their affiliated entities (related parties) amounted to $2,633,000 and $3,072,000, respectively. These loans were made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing for comparable loans with persons not related to us.

Deposits

Deposits of related parties amounted to $4,023,000 and $2,596,000 as of December 31, 2021 and 2020, respectively.