RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2013

(13) RELATED PARTY TRANSACTIONS

Members of the Board of Directors, certain Corporation officers, and their immediate families directly, or through entities in which they are principal owners (more than 10% interest), were customers of, and had loans and other transactions with the Corporation. These loans are summarized as follows for the years ended December 31, 2013 and 2012:

	2013			2012
Balance at beginning of year	$	25,389,555		$	20,884,273
New loans or additional advances		30,055,816			37,544,459
Repayments		(29,037,523	)		(33,039,177	)
Balance at end of year	$	26,407,848		$	25,389,555

Deposits from principal officers, directors, and their affiliates at year-end 2013 and 2012 were $9,762,196 and $9,928,331, respectively.

- 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

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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Reference 7: http://www.xbrl.org/2003/role/presentationRef

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Reference 9: http://www.xbrl.org/2003/role/presentationRef

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details