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Related-Party Transactions | 6 Months Ended
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Jun. 30, 2019
Related-Party Transactions [Abstract] |
Related-Party Transactions |
Note 7: | Related-Party Transactions
At June 30, 2019 and December 31, 2018, the Company had loans outstanding to executive officers, directors, significant shareholders and their affiliates (related parties) approximating $6.2 million and $6.9 million, respectively. A summary of these loans is as follows (dollars in thousands):
|  | Balance Beginning of the Period |  |  | Additions |  |  | Collections/ Terminations |  |  | Balance End of the Period |
For the six months ended June 30, 2019 |  | $ | 6,897 |  |  | $ | 2,613 |  |  | $ | (3,355 | ) |  | $ | 6,155 |
Year ended December 31, 2018 |  | $ | 6,684 |  |  | $ | 7,319 |  |  | $ | (7,106 | ) |  | $ | 6,897 |
In management’s opinion, such loans and other extensions of credit and deposits were made in the ordinary course of business and were made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons. Further, in management’s opinion, these loans did not involve more than normal risk of collectability or present other unfavorable features. The Bank leases office and retail banking space in Woodward, Oklahoma from Haines Realty Investments Company, LLC, a related party of the Company. Lease expense totaled $46,000 for the three months ended June 30, 2019 and 2018, and $92,000 for the six months ended June 30, 2019 and 2018. In addition, payroll and office sharing arrangements were in place between the Company and certain of its affiliates.

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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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