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RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2014

9.	Related Party Transactions

In the opinion of management, loans to our officers and directors are made on substantially the same terms, including interest rates and collateral, as those terms prevailing at the time for comparable loans with persons not related to the lender that do not involve more than the normal risk of collectability. There were no outstanding loans to our executive officers as of December 31, 2014 and 2013. Related party loans are summarized as follows:

	DECEMBER 31,
	2014			2013

Balance at beginning of year	$	9,196,360		$	10,384,505
New loans or advances		19,323,171			3,317,714
Repayments		(21,543,302	)		(4,505,859	)

Balance at end of year	$	6,976,229		$	9,196,360

At December 31, 2014 and 2013, total deposits held by related parties were $6,087,307 and $6,200,370 respectively.

- 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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