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Related Party Transactions | 12 Months Ended
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Dec. 31, 2019
Related Party Transactions [Abstract] |
Related Party Transactions | NOTE 1 9 — RELATED PARTY TRANSACTIONS Oriental 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 th ese loans for the years December 31, 2019, 2018, and 2017 was as follows:
| Year Ended December 31,
| 2019 |  | 2018 |  | 2017
| (In thousands) |  |
Balance at the beginning of year | $ | 28,520 |  | $ | 28,138 |  | $ | 29,020
New loans and disbursements |  | 203 |  |  | 10,388 |  |  | 2,875
Repayments |  | (6,411) |  |  | (10,006) |  |  | (3,757)
Balance at the end of year | $ | 22,312 |  | $ | 28,520 |  | $ | 28,138
Oriental also hires professional services amounting to $3.7 million from a related party.

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