Related Party Transactions |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions | Related Party Transactions Certain directors of the Company and the Bank, companies with which the directors are affiliated, and certain principal officers and immediate family members are customers of, and have banking transactions with, the Bank in the ordinary course of business. Such indebtedness has been incurred on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons. The following is an analysis of the changes in the loans to those the Company has determined to be related parties as of June 30, 2026 and December 31, 2025:
Included in the loans to related parties was one loan on nonaccrual and past due with a balance of $43 thousand and $49 thousand as of June 30, 2026 and December 31, 2025, respectively. As of June 30, 2026 there was one additional loan past due but not on nonaccrual with a balance of $0.56 million. Loans to related parties decreased significantly since December 31, 2025 due to the retirement of three directors at the annual meeting of the shareholders held on April 20, 2026. Deposits from these related parties totaled $13.84 million and $28.69 million as of June 30, 2026 and December 31, 2025, respectively. Deposits from related parties are accepted subject to the same interest rates and terms as those from nonrelated parties. Letters of credit with these related parties totaled $67 thousand and $67 thousand as of June 30, 2026 and December 31, 2025, respectively, and were done under the same terms as those with nonrelated parties. There were no amounts drawn related to these letters of credit as of June 30, 2026 and December 31, 2025, respectively. Credit cards with these related parties had an outstanding balance of $48 thousand and $54 thousand as of June 30, 2026 and December 31, 2025, respectively, with a total credit limit of $0.28 million and $0.56 million as of June 30, 2026 and December 31, 2025, respectively. These related party credit cards were done under the same terms as those with nonrelated parties.
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