XML 31 R17.htm IDEA: XBRL DOCUMENT v3.22.4
Related Party Transactions
 12 Months Ended
Dec. 31, 2022
Related Party Transactions  
Related Party Transactions

(10) Related Party Transactions 

 

The Company conducts transactions with its directors and executive officers, including companies in which they have beneficial interests, in the normal course of business. In accordance with Regulation O of the Federal Reserve, it is the policy of the Bank that loan transactions with directors and officers are made on substantially the same terms as those prevailing at the time made for comparable loans to other persons. The following is a summary of activity for related party loans for 2022 and 2021:

(Dollars in thousands)

 

 

 

 

 

 

 

 

2022

 

 

2021

 

Beginning balance

 

$2,687

 

 

 

1,852

 

Disbursements

 

 

4,090

 

 

 

3,636

 

Repayments

 

 

(3,396)

 

 

(2,801)

Ending balance

 

$3,381

 

 

 

2,687

 

 

At December 31, 2022 and 2021, the Company had deposit relationships with related parties of approximately $44.5 million and $43.4 million, respectively.