Related Party Transactions

12 Months Ended

Dec. 31, 2016

In the ordinary course of business, the Corporation has made loans and commitments to extend credit to certain directors and executive officers of the Corporation and companies in which directors have an interest (Related Parties). These loans and commitments have been made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions with customers not related to the lender and did not involve more than the normal risk of collectability or present other unfavorable terms.

The following table provides a summary of activity for loans to Related Parties during the year ended December 31, 2016:



(Dollars in thousands)
Balance at January 1, 2016	$	66,377
Additions	18,688
Amounts collected and other reductions	(27,679		)
Balance at December 31, 2016	$	57,386

During 2016, the Corporation paid $23 thousand to Penn Foundation Inc. for the Employee Assistance Program and $2 thousand to Dunlap & Associates PC for advisory services, in the normal course of business on substantially the same terms as available for others. Margaret Zook, a director of the Corporation, is on the Board of Directors of Penn Foundation Inc., and Todd Benning, a director of the Corporation, is a liaison partner with Dunlap & Associates PC.

The following table provides additional information regarding transactions with Related Parties:



(Dollars in thousands)	At December 31, 2016
Commitments to extend credit	$	15,503
Standby and commercial letters of credits	1,000
Deposits received	15,960