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Related-Party Transactions

12 Months Ended

Dec. 31, 2018

Related-Party Transactions [Abstract]

Related-Party Transactions



NOTE 14 – RELATED-PARTY TRANSACTIONS

Loans to principal officers, directors and their affiliates during 2018 were as follows:



Beginning balance	$	5,470
New loans		-
Effect of changes in composition of related parties		-
Repayments		(1,798)
Ending balance	$	3,672



All loans to related parties were made in the ordinary course of business under terms equivalent to those prevailing in the market for arm’s length transactions at the time of origination. 

Deposits from principal officers, directors, and their affiliates at year-end 2018 and 2017 were $593 and $487, respectively.

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- References

No definition available.

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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

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