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Related Party Transactions
 12 Months Ended
Dec. 31, 2023
Related Party Transactions [Abstract]  
Related Party Transactions Related Party Transactions
In the ordinary course of business, the Bank has made loans to its directors and executive officers (and their associated and affiliated companies). All such loans have been made in accordance with regulatory requirements.

The following table presents a summary of aggregate activity involving related party borrowers for the years ended December 31, 2023, 2022, and 2021:
(in thousands)202320222021
Loans outstanding at beginning of year$2,410 $7,564 $9,393 
New loans and advances46,483 630 980 
Less loan repayments(45,810)(5,784)(2,809)
Reclassification (1)
(2,157)— — 
Loans outstanding at end of year$926 $2,410 $7,564 
(1) Represents loans that were once considered related party but are no longer considered related party, or loans that were not related party that subsequently became related party loans.

As of December 31, 2023 and 2022, deposits of related parties amounted to $8.4 million and $19.1 million, respectively.