The Company conducts transactions with its directors and executive officers, including companies in which such directors and executive officers have a beneficial interest, in the normal course of business. It is the Company’s policy to comply with federal regulations that require that loan and deposit transactions with directors and executive officers be made on substantially the same terms as those prevailing at the time for comparable loans and deposits to other persons. At December 31, 2021 and 2020, deposits from directors, executive officers and their related interests aggregated approximately $21.0 million and $16.2 million, respectively. These deposits were taken in the normal course of business at market interest rates.

The following is a summary of activity for related party loans for 2021 and 2020 (in thousands):

	2021		2020
Balance at beginning of year	$	9,665	$	14,109
New loans		13,762		15,323
Repayments		16,552		19,767
Balance at end of year	$	6,875	$	9,665