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Related-Party Transactions

12 Months Ended

Dec. 31, 2024

Related-Party Transactions

Related-Party Transactions

Note 14: Related-Party Transactions

In the ordinary course of business, the Company has granted loans to executive officers, directors, principal shareholders, and their affiliates (together, “related parties”). The following table presents the activity associated with loans made between related parties for the years ended December 31, 2024 and 2023:

​	​	​	​	​	​	​
(dollars in thousands)		2024			2023
Beginning Balance	​	$	31,840	​	$	27,676
New Loans and Advances	​		6,598	​		8,587
Repayments	​		(29,119)	​		(4,423)
Totals	​	$	9,319	​	$	31,840

​

Deposits from related parties held by the Company at December 31, 2024 and 2023 were $18.4 million and $17.9 million, respectively.

The Company has a lease agreement with a related party which is disclosed in “Note 9 – Leases”.

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The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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