TRANSACTIONS WITH EXECUTIVE OFFICERS, DIRECTORS AND PRINCIPAL STOCKHOLDERS

12 Months Ended

Dec. 31, 2019

TRANSACTIONS WITH EXECUTIVE OFFICERS, DIRECTORS AND PRINCIPAL STOCKHOLDERS

TRANSACTIONS WITH EXECUTIVE OFFICERS, DIRECTORS AND PRINCIPAL STOCKHOLDERS

NOTE 20 – TRANSACTIONS WITH EXECUTIVE OFFICERS, DIRECTORS AND PRINCIPAL STOCKHOLDERS

The Company has had, and may be expected to have in the future, banking transactions in the ordinary course of business with its executive officers, directors, principal stockholders, their immediate families and affiliated companies (commonly referred to as related parties), on the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with others.

The related party loan activity for the years ended December 31, 2019 and 2018 is summarized as follows:

(Dollars in thousands)	2019		2018
Balance, beginning	$	28,923	$	21,564
Disbursements		603		9,852
Repayments and other		(10,861)		(2,493)
Balance, ending	$	18,665	$	28,923

Deposits from certain executive officers, directors and their affiliates at December 31, 2019 and 2018 totaled $20.0 million and $45.5 million, respectively.

Certain related parties of the Company provided legal services and appraisal services to the Company. Legal services provided by related parties totaled $93 thousand and $39 thousand for the years ended December 31, 2019 and 2018, respectively. Appraisal services provided by related parties totaled $45 thousand and $9 thousand for the years ended December 31, 2019 and 2018, respectively. The Company also paid rent to related parties for an office location in the amount of $155 thousand and $152 thousand for the years ended December 31, 2019 and 2018, respectively.