RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2016

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

12.      Related Party Transactions

In the opinion of management, loans to our executive 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, 2016 and 2015. Related party loans are summarized as follows:

	DECEMBER 31,
	2016			2015
Balance at beginning of year	$	6,523,137		$	6,664,467
New loans or advances		4,833,545			6,662,930
Repayments		(7,412,542	)		(6,804,260	)
Balance at end of year	$	3,944,140		$	6,523,137

At December 31, 2016 and 2015, total deposits held by related parties were $4,376,563 and $7,760,342, respectively.

The Company also leased office space from a related party as discussed in the Premises, Equipment and Leasehold Improvements footnote.