Related Party Transactions

12 Months Ended

Dec. 31, 2022

Certain directors, officers, and companies with which they are associated were customers of, and had banking transactions with, the Company or the Bank in the ordinary course of business.

The following table summarizes the activity in these loans for the periods indicated:


(in thousands)
Balance January 1, 2021	$	6,833
Advances/new loans	2,000
Removed/payments	(2,517)
Balance December 31, 2021	6,316
Advances/new loans	11,960
Removed/payments	(6,892)
Balance December 31, 2022	$	11,384

Deposits of directors, officers and other related parties to the Bank totaled $28,355,000 and $35,310,000 at December 31, 2022 and 2021, respectively.