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Related Party Transactions

12 Months Ended

Dec. 31, 2019

Related Party Transactions [Abstract]

Related Party Transactions

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. A summary of related party loan activity during 2019 follows.

(dollars in thousands)
Balance, beginning of year						$	6,959
New loans						654
Repayments, net						(1,398)
Balance, end of year						$	6,215

None of the related party loans were identified as impaired or exceeded 5% of shareholders’ equity for the years ended 2019 or 2018.

Related party deposits totaled $13,887,000 and $15,077,000 as of December 31, 2019 and 2018, respectively.

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- References

No definition available.

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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

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