Related Party Transactions

12 Months Ended

Dec. 31, 2015

Certain directors, executive officers and companies with which they are affiliated are customers of, and have banking transactions with, the Bank in the ordinary course of business. These loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable arms-length transactions. A summary of loan transactions with directors, including their affiliates, and executive officers follows:



	For the Years Ended December 31,
	2015		2014		2013
Balance, Beginning of Period	$	202,197	$	230,722	$	273,330
New Loans	692		1,116		10,956
Less Loan Payments	21,151		29,641		53,564
Balance, End of Period	$	181,738	$	202,197	$	230,722

Loans to all employees, officers, and directors of the Company, in the aggregate constituted approximately 3.3% and 3.4% of the Company’s total shareholders' equity at December 31, 2015 and 2014, respectively. Deposits from executive officers and directors of the Company and the Bank and their related interests in the aggregate approximated $15.1 million at both December 31, 2015 and 2014.

The Company leased office space from a related party during the year ended December 31, 2015. The lease is with a company in which the related party, who is both a director and an officer of the Company, has an ownership interest. The Company incurred rent expenses of $81,000, $81,000, and $79,000 for the years ended December 31, 2015, 2014 and 2013, respectively, related to this lease. Management is of the opinion that the transactions with respect to office rent were made on terms that are comparable to those which would be made with unaffiliated persons.

- 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.

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