Related Party Transactions

12 Months Ended

Dec. 31, 2013

Note 11:

Related Party Transactions

In the normal course of business, we may enter into transactions with various related parties. In management’s opinion, such loans, other extensions of credit, and deposits were made in the ordinary course of business and were made on substantially the same terms (including interest rates and collateral) as those prevailing at the time for comparable transactions with other persons. Further, in management’s opinion, these loans did not involve more than normal risk of collectibility or present other unfavorable features.

Deposits from related parties held by the Company at December 31, 2013 and 2012 totaled $13,904 and $14,646, respectively.

The Company’s card processing services are provided by OneBridge, Inc., which was controlled by a shareholder of the Company. The shareholder sold One Bridge subsequent to December 31, 2013. Total expenses incurred related to card processing provided by OneBridge during the years ended December 31, 2013 and 2012, were approximately $95 and $109, respectively.

- 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+ Details