Related Party Transactions

12 Months Ended

Dec. 31, 2021

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, 2021, 2020, and 2019:


(in thousands)	2021		2020		2019
Loans outstanding at beginning of year	$	9,393	$	10,540	$	9,079
New loans and advances	980		594		4,943
Less loan repayments	(2,809)		(1,741)		(3,482)

Loans outstanding at end of year	$	7,564	$	9,393	$	10,540

At December 31, 2021 and 2020, deposits of related parties amounted to $41.0 million and $33.7 million, respectively.