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RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2016

NOTE 17 - RELATED PARTY TRANSACTIONS

In the normal course of business the Bank has granted loans to executive officers, directors, principal shareholders and associates of the foregoing persons considered to be related parties. Changes in loans to executive officers, directors and their related associates are as follows (there are no loans to principal shareholders):

Years ended December 31, (in thousands)		2016			2015
Balance, beginning of period	$	8,120		$	8,060
Advances		831			5,045
Repayments		(1,033	)		(4,985	)
Balance, end of period	$	7,918		$	8,120

- 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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