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Related Party Transactions | 12 Months Ended
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Dec. 31, 2019
Related Party Transactions |
Related Party Transactions | NOTE 14: Related Party Transactions Loans outstanding to the Corporation’s management, including directors and senior officers and certain of their affiliates, totaled $2.26 million and $2.05 million at December 31, 2019 and 2018, respectively. For the year ended December 31, 2019, the Corporation named new senior officers with loans outstanding at C&F Bank of $368,000, made loan advances to directors and senior officers totaling $13,000, and received repayments totaling $169,000. Total deposits of directors and senior officers were $7.21 million and $4.93 million at December 31, 2019 and 2018, respectively. In the opinion of management, these transactions were made in the ordinary course of business on substantially the same terms and conditions, including interest rates, collateral and repayment terms, as those prevailing at the same time for comparable transactions with unrelated persons, and, in the opinion of management and the Corporation’s Board of Directors, do not involve more than normal risk or present other unfavorable features.

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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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