Related Party Transactions

3 Months Ended

Mar. 31, 2015

9. Related Party Transactions

The Company periodically executes transactions with entities affiliated with its Chairman and Chief Executive Officer. Such transactions include automobile, furniture and equipment purchases as well as building operating lease payments and receipts, and an allocation of insurance expense and reimbursement at the related party’s cost for the use of a private aircraft service by the Company’s officers and directors.

The transactions which occurred during the three months ended March 31, 2015 and 2014 are outlined below (in thousands):


	Three Months Ended
	March 31,
(dollars in thousands)	2015		2014

Tax, utility, insurance and other reimbursement	$	80	$	51
Rent expense		253		262
Capital assets acquired		99		47
Total	$	432	$	360

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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