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Related-Party Transactions

12 Months Ended

Dec. 31, 2019

Related-Party Transactions [Abstract]

Related-Party Transactions



NOTE 14 – RELATED-PARTY TRANSACTIONS

Loans to principal officers, directors and their affiliates during 2019 were as follows:



Beginning balance	$	3,672
New loans		3,062
Repayments		(621)
Ending balance	$	6,113



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 2019 and 2018 were $976 and $593, 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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