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RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2017
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

NOTE 12 RELATED PARTY TRANSACTIONS

 

During the year, officers, directors (and companies controlled by them), principal shareholders, and associates were customers of and had loan transactions with the Bank in the normal course of business which amounted to $6.6 million at December 31, 2017 and $5.4 million at December 31, 2016. During the year ended December 31, 2017, total principal additions were $4.3 million and principal payments were $3.2 million, including renewals and advances on revolving lines of credit. During the year ended December 31, 2016, total principal additions were $4.9 million and principal payments were $3.6 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 $12.0 million and $11.1 million at the end of years 2017 and 2016, respectively.

 

On June 7, 2017, NPB Insurance Services, Inc. purchased a 39% membership interest in Lonesome Pine Title Agency, LLC, which provides title insurance. Another member of the agency is a related party to the Company.