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TRANSACTIONS WITH RELATED PARTIES
12 Months Ended
Dec. 31, 2022
TRANSACTIONS WITH RELATED PARTIES  
TRANSACTIONS WITH RELATED PARTIES

NOTE 16 TRANSACTIONS WITH RELATED PARTIES

 

Executive officers, directors and their affiliates are customers of the Bank and had transactions with the Company in the normal course of business. Management believes these transactions were made on substantially the same terms as those prevailing for other customers and did not involve any abnormal risk.

Loan transactions with related parties are shown in the following table (dollars in thousands):

 

 

 

2022

 

 

2021

 

Total loans, beginning of year

 

$23,379

 

 

$22,685

 

New loans

 

 

5,073

 

 

 

6,506

 

Relationship changes

 

 

(75)

 

 

(98)

Repayments

 

 

(5,950)

 

 

(5,714)

Total loans, end of year

 

$22,427

 

 

$23,379

 

 

Deposits of executive officers, directors and their affiliates were $9.2 million and $8.8 million on December 31, 2022 and 2021, respectively.  Management believes these deposits were made under the same terms available to other customers of the bank.