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Related Party Transactions

12 Months Ended

Dec. 31, 2023

Note 13 – Related Party Transactions

Loans to executive officers, directors and their affiliates were as follows at December 31:


(Dollars in thousands)	2023			2022

Balance, beginning of year	$	24,036		$	24,000
New loans		16,881			9,684
Repayments		(10,601	)		(9,259	)
Effect of changes in related parties		-			(389	)
Balance, end of year	$	30,316		$	24,036

Deposits from executive officers, directors and their affiliates were $21.1 million, $30.0 million and $16.8 million at December 31, 2023, 2022 and 2021, respectively.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details