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Transactions with Executive Officers, Directors and Principal Stockholders
 12 Months Ended
Dec. 31, 2020
Transactions with Executive Officers, Directors and Principal Stockholders  
Transactions with Executive Officers, Directors and Principal Stockholders

(16)Transactions with Executive Officers, Directors and Principal Stockholders

The Corporation has had, and may be expected to have in the future, banking transactions in the ordinary course of business with its executive officers, directors, principal stockholders, their immediate families and affiliated companies (commonly referred to as related parties). Loans receivable from related parties totaled $3.3 million and $3.7 million at December 31, 2020 and 2019, respectively. Advances, repayments, and the effect of changes in composition of related parties during 2020 totaled $4.9 million, $3.8 million, and $1.5 million, respectively. Advances and repayments during 2019 totaled $8.7 million and $8.5 million respectively. Deposits of related parties totaled $25.6 million and $20.2 million at December 31, 2020 and 2019, respectively. Subordinated debt held by related parties totaled $485 thousand and $519 thousand at December 31, 2020 and 2019, respectively.

The Corporation paid legal fees of $8 thousand and $16 thousand to a law firm of a director for the years ended December 31, 2020 and 2019, respectively.