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Related Parties
12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

Note 13. Related Parties

 

Advisors service agreements: In January 2006, the Company entered into a services agreement (the “Tectonic Advisors-CWA Services Agreement”) with Cain Watters. The owners of Cain Watters together hold approximately 31% ownership in the Company. Under the Tectonic Advisors-CWA Services Agreement, Cain Watters pays the Company for due diligence and research services on investment alternatives available to Cain Watters’ clients. The Company earned $919,000 and $1.8 million during the years ended December 31, 2021 and 2020, respectively, under the Tectonic Advisors-CWA Services Agreement. These fees are included in investment advisory and other related services in the accompanying consolidated statements of income. The Company had $76,000 and $43,000 in fees receivable related to these services at December 31, 2021 and 2020, respectively, which are included in other assets on the consolidated balance sheets.

 

CWA Fee Allocation Agreement: In January 2006, Tectonic Advisors entered into an agreement (the “Fee Allocation Agreement”) with Cain Watters with reference to its advisory agreement with the Bank. Tectonic Advisors had $225,000 and $198,000 payable to Cain Watters related to this agreement at December 31, 2021 and 2020, respectively, which are included in other liabilities on the accompanying consolidated balance sheets.

 

Certain officers, directors and their affiliated companies had depository accounts with the Bank as of December 31, 2021 and 2020, totaling approximately $9.2 million and $5.6 million, respectively. None of those deposit accounts have terms more favorable than those available to any other depositor. As of December 31, 2021, there were no loans outstanding to directors of the Bank or their affiliated companies.