RELATED PARTY TRANSACTIONS |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RELATED PARTY TRANSACTIONS [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RELATED PARTY TRANSACTIONS |
NOTE 12 – RELATED PARTY TRANSACTIONS
Loans to principal officers, directors, and their affiliates were as follows (dollars in thousands).
Deposits from principal officers, directors, and affiliates at December 31, 2022 and 2021 were $153.3 million and $205.4 million, respectively. The
majority of the deposit balances for each year are associated with institutional accounts of affiliated organizations.
During 2015, the Bank entered into a back-to-back swap agreement (see Note 1 – Derivatives) with a company affiliated with one of the Company’s directors. The
total notional amount of the agreement was $10.7 million and $12.0 million at December 31, 2022 and 2021, respectively.
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