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RELATED PARTY TRANSACTIONS
3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
18. RELATED PARTY TRANSACTIONS
In the ordinary course of business, from time to time the Company enters into transactions with related parties, including, but not limited to, its officers and directors. These transactions are made on substantially the same terms and conditions, including interest rates and collateral requirements, as those prevailing at the same time for comparable transactions with other customers. They do not, in the opinion of management, involve greater than normal credit risk or include other features unfavorable to the Company. Any related party loans exceeding $0.5 million require review and approval by the Board of Directors. There were no loans originated to related parties exceeding $0.5 million during the three months ended March 31, 2021 and 2020, respectively.
The outstanding balances of loans to related parties at March 31, 2021 and December 31, 2020 were $0.2 million for both periods. Total deposits from related parties at March 31, 2021 and December 31, 2020 were $7.1 million and $8.3 million, respectively. During the first quarter of 2021, there were no new loan and credit line advances to related parties and repayments were less than $0.1 million.