Related Party Transactions

12 Months Ended

Dec. 31, 2013

18. Related Party Transactions

Certain directors and officers of the Company are customers of the Company. Loan transactions with directors, officers and employees are made on the same terms as those prevailing at the time for comparable loans to other persons. Loans outstanding to directors, executive officers and their affiliates totaled $7,277,000 and $7,858,000 as of December 31, 2013 and 2012, respectively. A summary of related party loan activity during 2013 follows.


*(dollars in thousands)*
Balance, beginning of year	$	7,858
New loans		1,700
Repayments, net		(2,281	)

Balance, end of year	$	7,277

None of the related party loans were identified as impaired or exceeded 5% of shareholders’ equity for the years ended 2013 or 2012.

Related party deposits totaled $12,155,000 and $11,552,000 as of December 31, 2013 and 2012, 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.

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