NOTE 16 — RELATED-PARTY TRANSACTIONS

Loans to related parties and their affiliates were as follows:

	Years Ended December 31,
(Dollars in thousands)	2017			2016
Beginning balance	$	29,285		$	35,765
New loans and advances		14,440			88,711
Effect of changes in composition of related parties		(15,004	)		(6,018	)
Repayments		(2,109	)		(89,173	)
Ending balance	$	26,612		$	29,285

Advances and repayments of related party loans for the year ended December 31, 2016 included activity on revolving credit and asset-based lending arrangements.

Related party deposits at December 31, 2017 and 2016 were $9,360,000 and $14,634,000, respectively.

Trinitas Capital Management, LLC

Trinitas Capital Management, LLC (“Trinitas”) is an independent CLO asset manager formed in 2015. Prior to the sale of TCA on March 31, 2017, certain of the Company’s officers and other personnel served as officers or managers of Trinitas and certain members of the Company’s board of directors also hold minority membership interests in Trinitas. The Company does not hold any membership interests in Trinitas.

As described in Note 8 – Variable Interest Entities, the Company, through its subsidiary TCA, provided certain middle and back office staffing and services to Trinitas as the asset manager of various CLO funds issued by Trinitas. For the years ended December 31, 2017 and 2016, TCA earned fees from Trinitas totaling $521,000 and $907,000, respectively. No asset management fees were earned by TCA from Trinitas for the year ended December 31, 2015. As a result of the TCA sale, as of March 31, 2017 the Company no longer acts as a staffing and services provider for Trinitas. The Company holds investments in the subordinated notes of Trinitas IV, Trinitas V, and Trinitas VI, CLOs managed by Trinitas, with a carrying amount of $8,557,000 and $3,380,000 at December 31, 2017 and 2016, respectively.

Triumph Consolidated Cos., LLC

As described in Note 18 – Equity and Noncontrolling Interests, Triumph Consolidated Cos., LLC held a warrant to purchase shares of the Company’s common stock which was exercised during the year ended December 31, 2017. Prior to its dissolution during the year ended December 31, 2017, certain of the Company’s directors and executive officers were directors, officers, investors, or other interest holders in Triumph Consolidated Cos., LLC.