Note 3: Loans and Allowance For Loan Losses: Related Party Transactions Disclosure (Policies)

12 Months Ended

Dec. 31, 2015

Policies

Related Party Transactions Disclosure

Certain directors and executive officers of the Company and the Bank are customers of and had transactions with the Bank in the ordinary course of business.  Except for the interest rates on loans secured by personal residences, in the opinion of management, all loans included in such transactions were made on substantially the same terms as those prevailing at the time for comparable transactions with unrelated parties.  Generally, residential first mortgage loans and home equity lines of credit to all employees and directors have been granted at interest rates equal to the Bank’s cost of funds, subject to annual adjustments in the case of residential first mortgage loans and monthly adjustments in the case of home equity lines of credit.  At December 31, 2015 and 2014, loans outstanding to these directors and executive officers are summarized as follows:

	December 31,
	2015	2014
(In Thousands)
Balance, beginning of year	$16,028	$7,093
New loans	3,390	10,427
Payments	(5,131)	(1,492)
Balance, end of year	$14,287	$16,028