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Related-Party Transactions
 12 Months Ended
Dec. 31, 2021
Related Party Transactions [Abstract]  
Related-Party Transactions

NOTE 12 – RELATED-PARTY TRANSACTIONS

In the ordinary course of business, loans are made by the Bank to executive officers, directors, their immediate family members, and their related business interests consistent with Federal Reserve Regulation O and GAAP definition of related parties.

The following is an analysis of activity of related-party loans for the years ended December 31:

 

(Dollars in thousands)

 

2021

 

 

2020

 

Balance at beginning of year

 

$

84

 

 

$

873

 

New loans and advances

 

 

11

 

 

 

31

 

Repayments, including loans sold

 

 

49

 

 

 

769

 

Changes in related parties 1

 

 

—

 

 

 

(51

)

Balance at end of year

 

$

46

 

 

$

84

 

 

 

1 The adjustments made in 2020 relate to the retirement of a director.

Deposits from executive officers, directors, their immediate family members, and their related business interests on December 31, 2021, and 2020 were approximately $6.2 million and $7.5 million.