XML 35 R21.htm IDEA: XBRL DOCUMENT

Note 13 - Related Parties

12 Months Ended

Dec. 31, 2015

NOTE 13 – RELATED PARTIES

Certain directors and executive officers of the Bank, including their immediate families and companies in which they are principal owners, were loan customers of the Bank. At year-end 2015 and 2014, the Bank had $14.0 million and $15.8 million in loan commitments to directors and executive officers, of which $11.2 million and $9.0 million were outstanding at year-end 2015 and 2014, respectively, as reflected in the following table. The line item entitled “Adjustments” primarily relates to Board member retirements in 2015 and the Firstbank merger in 2014.

	2015			2014

Beginning balance	$	9,002,000		$	6,884,000
New loans		3,371,000			781,000
Repayments		(965,000	)		(381,000	)
Adjustments		(257,000	)		1,718,000

Ending balance	$	11,151,000		$	9,002,000

Related party deposits and repurchase agreements totaled $18.5 million and $16.6 million at year-end 2015 and 2014, respectively.

- 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 + Details