Related Party Transactions |
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Dec. 31, 2015 | |||||||||||||||||||||||||||||||
Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||
Related Party Transactions Disclosure [Text Block] | NOTE 18: RELATED PARTY TRANSACTIONS A former director who retired from the Company’s board of directors in October 2015, is an officer in a construction company that the Company contracted with in 2015 and 2014 for limited renovations at the Bank’s operations center, the build out of leasehold improvements in connection with a relocation of a bank branch, and for construction of a new branch facility located in Auburn, Alabama. Total payments made to the construction company under the terms of these contracts were $1.2 million and $0.1 million for the years ended December 31, 2015 and 2014, respectively. The Bank has made, and expects in the future to continue to make in the ordinary course of business, loans to directors and executive officers of the Company, the Bank, and their affiliates. In management’s opinion, these loans were made in the ordinary course of business at normal credit terms, including interest rate and collateral requirements, and do not represent more than normal credit risk. An analysis of such outstanding loans is presented below.
During 2015 and 2014, certain executive officers and directors of the Company and the Bank, including companies with which they are affiliated, were deposit customers of the bank. Total deposits for these persons at December 31, 2015 and 2014 amounted to $18.1 million and $22.0 million, respectively. |