Related Party Transactions

12 Months Ended

Dec. 31, 2021

In the ordinary course of business, the Corporation has made loans and commitments to extend credit to certain directors and executive officers of the Corporation and companies in which directors have an interest (Related Parties). These loans and commitments have been made on substantially the same terms, including interest rates and collateral requirements, as those prevailing at the same time for comparable transactions with customers not related to the lender and did not involve more than the normal risk of collectability or present other unfavorable terms.

The following table provides a summary of activity for loans to Related Parties during the year ended December 31, 2021:


(Dollars in thousands)
Balance at January 1, 2021	$	1,515

Amounts collected and other reductions	(1,515)
Balance at December 31, 2021	$	—

The following table provides additional information regarding transactions with Related Parties:


(Dollars in thousands)	At December 31, 2021
Commitments to extend credit	$	380

Deposits received	46,212