RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions [Text Block]

NOTE 10–RELATED-PARTY TRANSACTIONS

The Corporation granted loans to its directors, executive officers, and certain related individuals or entities in the ordinary course of business. The movement and balance of these loans were as follows:

	Amount
	(In thousands)
Balance at December 31, 2012	$	4,093
New loans		51
Payments		(750)
Other changes		(1,999)
Balance at December 31, 2013		1,395
New loans		61
Payments		(133)
Other changes		10
Balance at December 31, 2014	$	1,333

These loans do not involve more than normal risk of collectability and management considers that they present terms that are no more favorable than those that would have been obtained if the transactions had been with unrelated parties. The amounts reported as other changes include changes in the status of those who are considered related parties, which, for 2014, was mainly related to an addition of one new director and the resignation of one executive officer, and for 2013, was mainly due to the resignation ofoneindependent director of the Corporation.

From time to time, the Corporation, in the ordinary course of its business, obtains services from related parties or makes contributions to non-profit organizations that have some association with the Corporation. Management believes the terms of such arrangements are consistent with arrangements entered into with independent third parties.