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Note 17 - Related Party Transactions

12 Months Ended

Dec. 31, 2014

Note 17.

Related Party Transactions

In the normal course of business, the Company grants loans to executive officers, directors and members of their immediate families, as defined, and to entities in which these individuals have more than a 10% equity ownership. Such loans are transacted at terms, including interest rates, similar to those available to unrelated customers. The loans outstanding to such related parties during 2014 and 2013 were less than $100.

Related party deposits aggregated approximately $2.8 million and $3.0 million as of December 31, 2014 and 2013, respectively.

During 2014 and 2013, the Company did not lease office space to any directors and there were no legal fees to any director for legal services. Receivables due from affiliates aggregated less than $500 for rent paid on its behalf for the years ended 2014 and 2013.

- 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.

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