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Loan Commitments And Other Related Activities | 12 Months Ended
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Dec. 31, 2022
Loan Commitments And Other Related Activities [Abstract] |
Loan Commitments And Other Related Activities | NOTE 19 – LOAN COMMITMENTS AND OTHER RELATED ACTIVITIES Some financial instruments, such as loan commitments, credit lines, letters of credit and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contract are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment. The contractual amounts of financial instruments with off-balance-sheet risk at year end were as follows:
| 2022 |  | 2021
| Fixed Rate |  | Variable Rate |  | Fixed Rate |  | Variable Rate
Commitments to make loans | $ | 30,441 |  | $ | 169,838 |  | $ | 86,001 |  | $ | 135,429
Unused lines of credit | $ | 9,364 |  | $ | 118,687 |  | $ | 33,620 |  | $ | 73,812
Standby letters of credit | $ | 3,149 |  | $ | - |  | $ | 4,851 |  | $ | -
Commitments to make loans are generally made for periods of 60 days or less, except for construction loan commitments, which are typically for a period of one year, and loans under a specific drawdown schedule, which are based on the individual contracts. The fixed-rate loan commitments had interest rates ranging from 2.0% to 8.5% and maturities ranging from 1 month to 30 years at December 31, 2022. The fixed-rate loan commitments had interest rates ranging from 2.0% to 8.0% and maturities ranging from 1 month to 30 years at December 31, 2021. ‎

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI https://asc.fasb.org/topic&trid=2134479 + Details
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