Note 24 - Related Party Transactions

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

24.

RELATED PARTY TRANSACTIONS

The Company had loans outstanding to executive officers, directors and their affiliated companies. Management believes that these loans are made and processed on the same basis as loans to non-related parties. An analysis of the activity with respect to such aggregate extensions of credit to related parties for the years ended

December

31,

2016,

2015

and

2014

is as follows:

Extensions of credit at December 31, 2013	$	3,540,691
New extensions of credit made during the year		-
Repayments during the year		(250,400	)
Extensions of credit at December 31, 2014	$	3,290,291
New extensions of credit made during the year		-
Repayments during the year		(399,789	)
Extensions of credit at December 31, 2015	$	2,890,502
New extensions of credit made during the year		60,000
Repayments during the year		(146,401	)
Extensions of credit at December 31, 2016	$	2,804,101

At

December

31,

2016,

2015

and

2014,

the Bank had deposit relationships with related parties of approximately

$3.1

million,

$4.7

million and

$1.9

million, respectively.