Related Party Transactions

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2016 and 2015 are outlined below (unaudited and in thousands):


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(dollars in thousands)	2016		2015		2016		2015

Tax, utility, insurance and other reimbursement	$	155	$	63	$	527	$	208
Rent expense		254		254		761		761
Capital assets acquired		24		38		191		163
Total	$	433	$	355	$	1,479	$	1,132