In the ordinary course of business, the Bank has made loans to its directors and executive officers (and their associated and affiliated companies). All such loans have been made in accordance with regulatory requirements.

The following table presents a summary of aggregate activity involving related party borrowers for the years ended December 31, 2020, 2019 and 2018:


(in thousands)	2020		2019		2018
Loans outstanding at beginning of year	$	10,540	$	9,079	$	8,983
New loans and advances	594		4,943		2,951
Less loan repayments	(1,741)		(3,482)		(2,854)
Reclassification (1)	—		—		(1)
Loans outstanding at end of year	$	9,393	$	10,540	$	9,079

(1) Represents loans that were once considered related party but are no longer considered related party, or loans that were not related party that subsequently became related party loans.

At December 31, 2020 and 2019, deposits of related parties amounted to $33.7 million and $27.2 million, respectively.