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Related Party Transactions
12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Related Party Transactions

Note 13 – Related Party Transactions

In the ordinary course of business, the Bank has granted loans to senior officers and directors and their affiliated companies amounting to $1.3 million and $1.5 million at December 31, 2019 and 2018, respectively. Six new loans were approved during 2019 of which no additional borrowings were utilized.  During 2019, subsequent advances totaled $10.1 million and payments of $10.7 million were received.  The difference in related borrowings amounted to $146 thousand, net decrease.  Deposits of directors, executive officers and companies in which they have a direct or indirect ownership as of December 31, 2019 and 2018, amounted to $33.7 million and $26.1 million, respectively.