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Related Party Transactions
 12 Months Ended
Dec. 31, 2014
Related Party Transactions
Note 19. Related Party Transactions

The Company is involved in certain transactions with related parties in the normal course of business. Related parties include directors and executive officers and the immediate family members, business interests, and affiliates of such directors and officers. All loans and commitments with related parties have been made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated parties. The following table summarizes deposit and loan activity with related parties in the periods indicated:

 

     Deposits      Loans  
(Amounts in thousands)              

Beginning balance, January 1, 2012

    $ 3,837       $ 18,406   

Increase in accounts, including new accounts

      311         2,580   

Decrease in accounts, including closed accounts

      (1,559 )       (4,369 ) 
  

 

 

     

 

 

  

Net change

      (1,248 )       (1,789 ) 
  

 

 

     

 

 

  

Ending balance, December 31, 2012

    $ 2,589       $ 16,617   
  

 

 

     

 

 

  

Beginning balance, January 1, 2013

    $ 2,589       $ 16,617   

Increase in accounts, including new accounts

      907         2,037   

Decrease in accounts, including closed accounts

      (574 )       (1,473 ) 
  

 

 

     

 

 

  

Net change

      333         564   
  

 

 

     

 

 

  

Ending balance, December 31, 2013

    $ 2,922       $ 17,181   
  

 

 

     

 

 

  

Beginning balance, January 1, 2014

    $ 2,922       $ 17,181   

Increase in accounts, including new accounts

      1,321         6,123   

Decrease in accounts, including closed accounts

      (423 )       (478 ) 
  

 

 

     

 

 

  

Net change

      898         5,645   
  

 

 

     

 

 

  

Ending balance, December 31, 2014

    $ 3,820       $ 22,826   
  

 

 

     

 

 

  

Changes in the composition of the Company’s subsidiary board members and executive officers resulted in a net increase in deposits of $481 thousand in 2014, $103 thousand in 2013, and $166 thousand in 2012. Changes in the composition of the Company’s subsidiary board members and executive officers resulted in a net increase in loans of $5.47 million in 2014 and decrease in loans of $613 thousand in 2013 and $2.79 million in 2012.

The Company’s other operating expense includes certain expense associated with related parties. Legal fees paid to related parties totaled $27 thousand in 2014, $57 thousand in 2013, and $63 thousand in 2012. Lease expense paid to related parties totaled $92 thousand in 2014, $134 thousand in 2013, and $171 thousand in 2012.