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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Dec. 31, 2017
Related Party Transactions [Abstract] |
Related Party Transactions [Text Block] | NOTE 13 – RELATED-PARTY TRANSACTIONS The Corporation granted loans to its directors, executive officers, and certain related individuals or entities in the ordinary course of business. The movement and balance of these loans were as follows:
| Amount
(In thousands) |  |
Balance at December 31, 2015 | $ | 1,252
New loans |  | 102
Payments |  | (146)
Other changes |  | -
Balance at December 31, 2016 |  | 1,208
New loans |  | 65
Payments |  | (189)
Other changes |  | -
Balance at December 31, 2017 | $ | 1,084
These loans were made subject to the provisions of Regulation O-“Loans to Executive Officers, Directors and Principal Shareholders of Member Banks,” which governs the permissible lending relationships between a financial institution and its executive officers, directors, principal shareholders, their families and related interests. A mounts related to changes in the status of those who are considered related parties are reported as other changes. There were no changes in the status of related parties during 2017 and 2016. From time to time, the Corporation, in the ordinary course of its business, obtains services from related parties or makes contributions to non-profit organizations that have some association with the Corporation. Management believes the terms of such arrangements are cons istent with arrangements entered into with independent third parties.

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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