Note 21 - Related Party Transactions

12 Months Ended

Dec. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

21. RELATED PARTY TRANSACTIONS

In the normal course of business, the Bank has made loans to its directors, officers, including their immediate families, and their related business interests. In the opinion of management, related party loans are made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with unrelated persons and do not involve more than the normal risk of collectability. The aggregate dollar amount of loans outstanding to directors, officers, their immediate families, and their related business interests was zero and approximately $1.7 million at December 31, 2013 and 2012, respectively and unused lines of credit was $3.1 million and $1.4 million at December 31, 2013 and 2012, respectively. Deposits from related parties held by the Bank at December 31, 2013 and 2012 amounted to $2.0 million and $3.1 million, respectively.

From December 2011 to October 2013, the Bank subleased office space on a month-to-month basis from a related party. Lease expense to this related party was approximately $72,000 and $91,000 for the years ended December 31, 2013 and 2012, respectively. For the year ended December 31, 2013, the Company also paid $26,000 to a related party under the terms of an aircraft time-sharing agreement.