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Related Party Transactions
12 Months Ended
Dec. 31, 2014
Related Party Transactions [Abstract]  
Related Party Transactions

Note 13 – Related Party Transactions

In the ordinary course of business, the Bank has granted loans to senior officers and directors and their affiliated companies amounting to $1.5 and $5.9 million at December 31, 2014 and 2013, respectively. New loans approved during 2014 were $428 thousand. During 2014, subsequent advances totaled $10.1 million and payments of $10.6 million were received. The difference in related borrowings amounted to $502 thousand, net reduction. Deposits of directors, executive officers and companies in which they have a direct or indirect ownership as of December 31, 2014 and 2013, amounted to $26.1 million and $22.3 million, respectively.