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Note 11 - Related Parties
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

NOTE 11 – 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 2024 and 2023, our bank had $20.4 million and $124 million in loan commitments to directors and executive officers, of which $7.8 million and $89.5 million were outstanding at year-end 2024 and 2023, respectively, as reflected in the following table.

 

(Dollars in thousands)

 2024  2023 
         

Beginning balance

 $89,507  $92,660 

New loans

  1,898   3,221 

Repayments

  (3,788)  (5,410)

Effect of changes in related parties

  (79,847)  (964)
         

Ending balance

 $7,770  $89,507 

 

Related party deposits and repurchase agreements totaled $17.9 million and $20.7 million at year-end 2024 and 2023, respectively.