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RELATED PARTY TRANSACTIONS | 12 Months Ended
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Dec. 31, 2018
RELATED PARTY TRANSACTIONS [Abstract] |
RELATED PARTY TRANSACTIONS | 14. RELATED PARTY TRANSACTIONS Certain executive officers and directors of the Company, or companies in which they have 10 percent or more beneficial ownership, were indebted to the Bank. Such loans were made in the ordinary course of business at the Bank’s normal credit terms and do not present more than a normal risk of collection. A summary of loan activity for the years ended December 31, 2018 and 2017 with officers, directors, stockholders and associates of such persons is listed below (in thousands):
|  | Year Ended December 31, |
|  | 2018 |  |  | 2017 |
Balance, beginning of year |  | $ | 4,585 |  |  | $ | 5,570 |
New loans |  |  | 14,377 |  |  |  | 4,161 |
Repayments |  |  | (4,868 | ) |  |  | (5,146 | )
Balance, end of year |  | $ | 14,094 |  |  | $ | 4,585 |

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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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