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Related Party Transactions
 12 Months Ended
Dec. 31, 2015
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:

 

(Amounts in thousands)    Deposits      Loans  

Beginning balance, January 1, 2015

    $ 3,820       $ 22,826   

Increase in accounts, including new accounts

      4,084         1,066   

Decrease in accounts, including closed accounts

      (1,356 )       (2,006 ) 
  

 

 

     

 

 

  

Net change

      2,728         (940 ) 
  

 

 

     

 

 

  

Ending balance, December 31, 2015

    $ 6,548       $ 21,886   
  

 

 

     

 

 

  

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   
  

 

 

     

 

 

  

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   
  

 

 

     

 

 

  

Changes in the composition of the Company’s subsidiary board members and executive officers resulted in a net decrease in deposits of $420 thousand in 2015 compared to a net increase of $481 thousand in 2014 and $103 thousand in 2013. Changes in the composition of the Company’s subsidiary board members and executive officers resulted in no change to loans in 2015 compared to a net increase of $5.47 million in 2014 and a net decrease in loans of $613 thousand in 2013.

The Company’s other operating expense includes certain expenses associated with related parties. Legal fees paid to related parties totaled $88 thousand in 2015, $27 thousand in 2014, and $57 thousand in 2013. Lease expense paid to related parties totaled $95 thousand in 2015, $92 thousand in 2014, and $134 thousand in 2013. Other expense paid to related parties totaled $21 thousand in 2015.