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Note 12 - Related Parties
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

NOTE 12 – RELATED PARTIES

 

Certain directors and executive officers of our bank, including their immediate families and companies in which they are principal owners, were loan customers of our bank. At year-end 2020 and 2019, our bank had $122 million and $115 million in loan commitments to directors and executive officers, of which $108 million and $104 million were outstanding at year-end 2020 and 2019, respectively, as reflected in the following table.

  

  

2020

  

2019

 
         

Beginning balance

 $104,043,000  $92,033,000 

New loans

  13,823,000   16,662,000 

Repayments

  (9,824,000

)

  (4,652,000

)

         

Ending balance

 $108,042,000  $104,043,000 

 

Paycheck Protection Program loans to related companies of our directors totaled $0.3 million as of December 31, 2020.

 

Related party deposits and repurchase agreements totaled $19.4 million and $15.0 million at year-end 2020 and 2019, respectively.