Note 4 - Related Party Transactions |
12 Months Ended |
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Dec. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] |
Note 4: Related Party Transactions In the ordinary course of business, the Company, through its banking subsidiary, has granted loans to related parties, including executive officers and directors of NBI and its subsidiaries. Total funded credit extended to related parties amounted to $14,822 at December 31, 2021 and $15,403 at December 31, 2020. During 2021, total principal additions totaled $2,570 and principal payments were $3,151. Loans totaling $116 at December 31, 2020 were removed when a director retired and a review of related parties determined a previously reported party did not meet the definition for reporting. During 2020, total principal additions were $10,649 and principal payments were $10,248. The Company held $14,460 in deposits for related parties as of December 31, 2021 and $16,140 as of December 31, 2020. The Company leases to a director a small office space. The lease payments totaled $5 in 2021 and $5 in 2020. The Company has also contracted with a director's firm to prepare architectural plans for a new office in Roanoke, Virginia. The arrangement is at arms-length and the Company paid the director's firm $113 in 2021 and $66 in 2020. |