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RELATED PARTY TRANSACTIONS
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
Members of the Board of Directors, certain Corporation officers, and their immediate families directly, or through entities in which they are principal owners (more than 10% interest), were customers of, and had loans and other transactions with the Corporation. These loans are summarized as follows for the years ended December 31, 2024 and 2023 (in thousands):
 20242023
Balance at beginning of year$26,058 $28,062 
New loans or additional advances175 77 
Effect of changes in composition of related parties— (4)
Repayments(820)(2,077)
Balance at end of year$25,413 $26,058 


Deposits from principal officers, directors, and their affiliates as of December 31, 2024 and 2023 were $43.1 million and $36.0 million, respectively.

The Bank leases its branch located at 2 Rush Street, Schenectady, New York, under a lease agreement through February, 2033 from a member of the Corporation's Board of Directors with monthly rent and CAM expense totaling $9 thousand per month for each of the years ended December 31, 2024 and 2023. Rent and CAM paid to this Board member totaled $110 thousand and $118 thousand for the years ended December 2024 and 2023, respectively.
WMG provided trust services to members of the Board of Directors, certain Corporation officers, and their immediate families directly, or through entities in which they are principal owners. WMG fee income for the trust services provided totaled $0.3 million and $0.2 million for the years ended December 31, 2024 and 2023, respectively.