Related Party Transactions

12 Months Ended

Dec. 31, 2015

NOTE 16 — RELATED PARTY TRANSACTIONS

The Bank grants loans to its directors, executive officers and to certain related individuals or organizations in the ordinary course of business. These loans are offered at the same terms as loans to unrelated third parties. The activity and balance of these loans for the years ended December 31, 2015, 2014 and 2013 was as follows:

	Year Ended December 31,
	2015		2014		2013
	(In thousands)
Balance at the beginning of year	$	27,011	$	18,963	$	6,055
New loans and disbursements		13,581		21,797		18,499
Repayments		(9,117)		(13,725)		(4,798)
Credits of persons no longer
considered related parties		-		(24)		(793)
Balance at the end of year	$	31,475	$	27,011	$	18,963

- 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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