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Concentration of Credit Risk | 3 Months Ended
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Mar. 31, 2022
Concentration of Credit Risk [Abstract] |
Concentration of Credit Risk | NOTE (13) – Concentration of Credit Risk The Bank has a significant concentration of deposits with one customer that accounted for approximately 16% of its deposits as of March 31, 2022. The Bank also has a significant concentration of short term borrowings from one customer that accounted for 74% of the outstanding balance of securities sold under agreements to repurchase as of March 31, 2022. The Bank expects to maintain the relationships with these customers for the foreseeable future.

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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 http://asc.fasb.org/topic&trid=2134479 + Details
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