Note 11 - Related Parties

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 11 – RELATED PARTIES

Certain directors and executive officers of our bank, including their immediate families and companies in which they are principal owners, were loan customers of our bank. At year-end 2023 and 2022, our bank had $124 million and $116 million in loan commitments to directors and executive officers, of which $89.5 million and $92.7 million were outstanding at year end 2023 and 2022, respectively, as reflected in the following table.

(Dollars in thousands)	2023			2022
Beginning balance	$	92,660		$	87,672
New loans		3,221			10,619
Repayments		(5,410	)		(5,631	)
Effect of changes in related parties		(964	)		0
Ending balance	$	89,507		$	92,660

Related party deposits and repurchase agreements totaled $20.7 million and $21.5 million at year-end 2023 and 2022, respectively.