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Related-Party Transactions
12 Months Ended
Dec. 31, 2023
Related-Party Transactions  
Related-Party Transactions

Note 13: Related-Party Transactions

In the ordinary course of business, the Company has granted loans to executive officers, directors, principal shareholders, and their affiliates (related parties). The following table presents the activity associated with loans made between related parties for the years ended December 31, 2023 and 2022:

(dollars in thousands)

    

2023

    

2022

Beginning Balance

$

27,676

$

49,964

New Loans and Advances

 

8,587

 

16,006

Repayments

 

(4,423)

 

(38,294)

Totals

$

31,840

$

27,676

Deposits from related parties held by the Company at December 31, 2023 and 2022 were $17.9 million and $22.2 million, respectively.

The Company has a related party lease which is disclosed in “Note 8 – Leases”.