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Related Party Transactions
12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
 
Loans to the Company’s executive officers and directors are made in the ordinary course of business, in accordance with applicable regulations and the Company’s policies and procedures. At December 31, 2020, there was no related party loans outstanding. At December 31, 2019, the Company had related party loans outstanding totaling $5.5 million associated with two former Directors, John J. Carona and Michael J. Morris, who resigned pursuant to the terms of the merger agreement to acquire Opus in June 2020.
 
At the end of 2020, the Company had related party deposits of approximately $60.0 million, compared to $510.2 million at the end of 2019. The decrease was due to the departure of former Director Mr. Carona during 2020; thus, the associated deposits are no longer considered related party deposits at December 31, 2020. Mr. Carona is the President and Chief Executive Officer of Associations, Inc. (“Associa”), a Texas corporation that specializes in providing management and related services for homeowners’ associations located across the United States. At December 31, 2019, $468.9 million of the related party deposits were attributable to Associa.