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12. RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2015
Related Party Transactions [Abstract]  
12. RELATED PARTY TRANSACTIONS

NOTE 12 RELATED PARTY TRANSACTIONS:

 

During the year, officers and directors (and companies controlled by them) were customers of and had loan transactions with the Bank in the normal course of business which amounted to $3.6 million at December 31, 2015 and $4.0 million at December 31, 2014. During the year ended December 31, 2015, total principal additions were $3.1 million and principal payments were $3.5 million, including renewals and advances on revolving lines of credit. During the year ended December 31, 2014, total principal additions were $3.2 million and principal payments were $3.1 million, including renewals and advances on revolving lines of credit. These transactions were made on substantially the same terms as those prevailing for other customers and did not involve any abnormal risk. Total related party deposits held at the Bank were $4.6 million and $5.6 million at the end of years 2015 and 2014, respectively.