Related Party Transactions

3 Months Ended

Mar. 31, 2016

8. 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 months ended March 31, 2016 and 2015 are outlined below (in thousands):


	Three Months Ended
	March 31,
(dollars in thousands)	2016		2015

Tax, utility, insurance and other reimbursement	$	180	$	80
Rent expense		253		253
Capital assets acquired		80		99
Total	$	513	$	432

- 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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