Related Party Transactions

12 Months Ended

Dec. 31, 2016

6. Related Party Transactions

In the ordinary course of business, CTB has made extensions of credit and had transactions with certain directors and executive officers of CTBI or our subsidiaries, including their associates (as defined by the Securities and Exchange Commission). We believe such extensions of credit and transactions were made on substantially the same terms, including interest rate and collateral, as those prevailing at the same time for comparable transactions with other persons.

Activity for related party extensions of credit during 2016 and 2015 is as follows:

(in thousands)	2016			2015
Related party extensions of credit, beginning of period	$	29,224		$	37,473
New loans and advances on lines of credit		2,456			867
Repayments		(4,599	)		(9,116	)
Related party extensions of credit, end of period	$	27,081		$	29,224

The aggregate balances of related party deposits at December 31, 2016 and 2015 were $15.5 million and $12.5 million, respectively.

A director of CTBI is a shareholder in a law firm that provided services to CTBI and its subsidiaries during the years 2016, 2015, and 2014. Approximately $1.0 million in legal fees and $0.1 million in expenses paid on behalf of CTBI, $1.1 million total, were paid to this law firm during 2016. Approximately $1.2 million in legal fees and $0.1 million in expenses, $1.3 million total, were paid during 2015, and approximately $1.0 million in legal fees and $0.1 million in expenses, $1.1 million in total, were paid during 2014.