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Note 12 - Related Parties
 12 Months Ended
Dec. 31, 2021
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 2021 and 2020, our bank had $104 million and $122 million in loan commitments to directors and executive officers, of which $87.7 million and $108 million were outstanding at year-end 2021 and 2020, respectively, as reflected in the following table.

 

  

2021

  

2020

 
         

Beginning balance

 $108,042,000  $104,043,000 

New loans

  2,542,000   13,823,000 

Repayments

  (22,912,000

)

  (9,824,000

)

         

Ending balance

 $87,672,000  $108,042,000 

 

We had no PPP loans outstanding to related companies of our directors as of December 31, 2021. PPP loans to related companies of our directors totaled $0.3 million as of December 31, 2020.

 

Related party deposits and repurchase agreements totaled $18.4 million and $19.4 million at year-end 2021 and 2020, respectively.