Related Party Transactions

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 15: RELATED PARTY TRANSACTIONS

The Bank has made, and expects in the future to continue to make in the ordinary course of business, loans to directors and

executive officers of the Company, the Bank, and their immediate families and affiliates. These persons, corporations, and

firms have had transactions in the ordinary course of business with the Company and Bank, including borrowings, all of

which management believes were on substantially the same terms, including interest rates and collateral, as those prevailing

at the time of comparable tranactions with unaffiliated persons and did not involve more than the normal risk of

collectability or present other unfavorable features. A summary of such outstanding loans is presented below:

(Dollars in thousands)

Amount

Loans outstanding at December 31, 2022

$

1,646

New loans/advances

567

Repayments

(316)

Loans outstanding at December 31, 2023

$

1,897

During 2023 and 2022, certain executive officers, directors and principal shareholders’ of the Company and the Bank,

including companies and related parties with which they are affiliated, were deposit customers of the bank. Total deposits

for these persons at December 31, 2023 and 2022 amounted to $

21.1

 million and $

22.8

 million, respectively.