RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2019

NOTE R - RELATED PARTY TRANSACTIONS

The Bank has had, and expects to have in the future, banking and other transactions in the ordinary course of business with certain of its current directors, nominees for director, executive officers and associates. All such transactions are made on substantially the same terms, including interest rates, repayment terms and collateral, as those prevailing for comparable transactions with persons not related to the lender, and do not involve more than the normal risk of collection or present other unfavorable features.

The Bank has loan transactions with its directors and executive officers in the regular course of business. Such loans were made in the ordinary course of business and on substantially the same terms and collateral as those for comparable transactions prevailing at the time and did not involve more than the normal risk of collectability or present other unfavorable features. The following table represents loan transactions for directors and executive officers who held that position as of December 31, 2019 and 2018. A summary of related party loan transactions, is as follows:


	2019		2018
	(dollars in thousands)

Balance at January 1	$	12,658	$	13,520
Exposure of directors/executive officers added		—		—
Borrowings		5,110		1,312
Directors/executive officers resigned or retired from board		(647)		—
Loan repayments		(9,894)		(2,174)
Balance at December 31	$	7,227	$	12,658

At December 31, 2019, there was $2.8 million of unused lines of credit outstanding to directors and executive officers of the Company and its subsidiaries. Directors and executive officers had $35.5 million deposited with the Company at December 31, 2019.