Related Party Transactions

9 Months Ended

Sep. 30, 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 reimbursement for the use of a private aircraft service by the Company’s officers and directors.

The transactions which occurred during the three and nine months ended September 30, 2015 and 2014 are outlined below (in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(dollars in thousands)	2015		2014		2015		2014

Tax, utility, insurance and other reimbursement	$	63	$	296	$	208	$	464
Rent expense		254		253		761		772
Capital assets acquired		38		86		163		160
Total	$	355	$	635	$	1,132	$	1,396

- 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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