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Note 19 - Related Party Transactions
 12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

Note 19. Related Party Transactions

 

The Company engages in transactions with related parties in the normal course of business. Related parties include directors, executive officers, and principal shareholders and their immediate family members, business interests, and affiliates. All related party transactions are made on terms that are substantially the same as those prevailing at the time for similar transactions with unrelated parties, including interest rates and collateral. The following table presents the changes in loans with related parties during the periods indicated:

 

  

Year Ended December 31,

 
  

2020

  

2019

 

(Amounts in thousands)

        

Beginning balance

 $20,345  $22,033 

New loans and advances

  4,821   3,958 

Loan repayments

  (5,023)  (5,634)

Reclassifications(1)

  23   (12)

Ending balance

 $20,166  $20,345 

 

(1)

Changes related to the composition of the Company's directors, executive officers, and related insiders

 

Deposits from related parties totaled $8.04 million as of December 31, 2020, and $7.29 million as of December 31, 2019. Legal fees paid to related parties totaled $70 thousand in 2020, $150 thousand in 2019, and $67 thousand in 2018. There were no lease payments paid to related parties in 2020 2019 ,2018. Other expense paid to related parties totaled $68 thousand in 2020, $7 thousand in 2019, and $4 thousand in 2018.