Related Party Transactions

9 Months Ended

Sep. 30, 2015

Note 26 – Related Party Transactions

Certain directors, officers, and companies with which they are associated were customers of, and had banking transactions with, the Company or the Bank in the ordinary course of business. The following table summarizes the activity in such lending transactions for 2015 and 2014 (in thousands):


Balance December 31, 2013	$	2,636
Advances/new loans		2,106
Removed/payments		(1,610	)

Balance December 31, 2014	$	3,132
Advances/new loans		2,800
Removed/payments		(1,634	)

Balance September 30, 2015	$	4,298

Director Chrysler is a principal owner and CEO of Modern Building Inc. Modern Building Inc. provided construction services to the Company related to new and existing Bank facilities for aggregate payments of $321,000 during the nine months ended September 30, 2015 and $1,181,000 during the year ended December 31, 2014.

- 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.

+ References + Details