Related Party Transactions

12 Months Ended

Dec. 31, 2014

In the ordinary course of business, the Corporation has made loans and commitments to extend credit to certain directors and executive officers of the Corporation and companies in which directors have an interest (Related Parties). These loans and commitments have been made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions with customers not related to the lender and did not involve more than the normal risk of collectability or present other unfavorable terms.

The following table provides a summary of activity for loans to Related Parties during the year ended December 31, 2014:



(Dollars in thousands)
Balance at January 1, 2014	$	27,802
Additions	10,551
Amounts collected and other reductions	(7,668		)
Balance at December 31, 2014	$	30,685

The Corporation paid $19 thousand during 2014 to Penn Foundation Inc. for the Employee Assistance Program, in the normal course of business on substantially the same terms as available for others. Margaret Zook, a director of the Corporation, is on the Board of Directors of Penn Foundation Inc.

The following table provides additional information regarding transactions with Related Parties:



(Dollars in thousands)	At December 31, 2014
Commitments to extend credit	$	16,453
Standby and commercial letters of credits	223
Deposits received	10,342

- 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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