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Related Party Transactions
12 Months Ended
Dec. 31, 2016
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 million and $739 thousand at December 31, 2016 and 2015, respectively. One new loan was approved during 2016 of which no additional borrowings were utilized. During 2016, subsequent advances totaled $9.9 million and payments of $10.1 million were received. The difference in related borrowings amounted to $757 thousand, net increase. Deposits of directors, executive officers and companies in which they have a direct or indirect ownership as of December 31, 2016 and 2015, amounted to $21.7 million and $26.3 million, respectively.