Transactions with Related Parties

9 Months Ended

Sep. 30, 2022

Note 16. Transactions with Related Parties

Directors, executive officers and non-executive officers of the Company have been customers of and have had transactions with the Bank, and it is expected that such persons will continue to have such transactions in the future. Aggregate loan transactions with related parties for the three and nine months ended September 30, 2022 and 2021 were as follows:


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2022			2021			2022			2021
	(in thousand)
Beginning balance (1)	$	7,532		$	414		$	5,631		$	424
Originations (1)		1,223			—			5,418			10
Payments		(269	)		(53	)		(2,563	)		(73	)
Ending balance	$	8,486		$	361		$	8,486		$	361

(1)

Includes loans held by James Perez who became a director on March 17, 2022.

The Company held deposits in the amount of $7.6 million and $6.2 million from directors, executive officers and non-executive officers at September 30, 2022 and December 31, 2021, respectively.