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Related Party Transactions
 12 Months Ended
Dec. 31, 2021
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 $20.1 million and $1.4 million at December 31, 2021 and 2020, respectively. Four new loans were approved during 2021 of which no additional borrowings were utilized.  During 2021, subsequent advances totaled $8.3 million and payments of $10.3 million were received.  The difference in related borrowings amounted to $18.7 million, net increase.  Deposits of directors, executive officers and companies in which they have a direct or indirect ownership as of December 31, 2021 and 2020, amounted to $43.7 million and $38.3 million, respectively.