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RELATED PARTY TRANSACTIONS | 3 Months Ended
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Mar. 31, 2024
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS Some of the Corporation's directors, executive officers, and their related interests had transactions with the Bank in the ordinary course of business. All loan and deposit transactions were made on substantially the same terms, such as interest rates and collateral, as those prevailing at the time for comparable transactions. In the opinion of management, these transactions do not involve more than the normal risk of collectability nor do they present other unfavorable features. It is anticipated that similar transactions will be entered into in the future. Loans to principal officers, directors, and their affiliates during the three months ended March 31, 2024 were as follows:
Beginning balance | $ | 40,129 |
New loans and advances | 67 |
Effect of changes in composition of related parties | 119 |
Repayments | (5,163) |
Ending balance | $ | 35,152 |
Deposits from directors, executive officers, and their affiliates were $9.9 million and $11.4 million at March 31, 2024 and December 31, 2023, respectively.

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