22.	RELATED PARTY TRANSACTIONS

In the normal course of business, the Bank has made loans to its directors and officers, including their immediate families, and their related business interests. In accordance with the Bank

’s policies, 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 and officers, their immediate families, and their related business interests was approximately

$8.2

million and

$6.8

million for the years ended

December

31,

2017

and

2016,

respectively, and unused lines of credit available to such persons totaled

$220,000

and

$241,000

December 31, 2017

and

2016,

respectively. Deposits from related parties held by the Bank at

December

31,

2017

and

2016

amounted to

$6.7

million and

$16.9

million, respectively.

For the years ended

December 31,

201

and

2016,

the Company paid

$21,000

and

$160,000,

respectively, to related parties under the terms of an aircraft time-sharing agreement and service agreements.

2014,

the Company and its Chairman entered into an aircraft purchase agreement whereby the Company acquired a

75%

undivided interest and Mr. Massey acquired a

25%

undivided interest in an airplane acquired at a cost of

$775,000.

The Company and Mr. Massey also entered into an agreement pursuant to which the parties agreed to apportion the fixed costs of the aircraft on a pro rata basis with each party agreeing to pay its own variable costs associated with the use of the aircraft. Variable costs attributable to Mr. Massey's use of the aircraft in connection with Company business, and

not

in connection with his personal use of the aircraft, were paid by the Company. The aircraft was sold in

February 2017

for

$575,000

resulting in a loss to the Company of

$28,000.