Note 15 - Related Party Transactions

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE

1

5

— RELATED PARTY TRANSACTIONS

The Company, in the normal course of business, makes loans and receives deposits from its directors, officers, principal shareholders, and their associates. In management’s opinion, these transactions are on substantially the same terms as comparable transactions with other customers of the Company. Loans to directors, officers, shareholders, and affiliates are summarized below:

	YEARS ENDED DECEMBER 31,
(in thousands)	201 9			201 8
Aggregate amount outstanding, beginning of year	$	5,895		$	5,350
New loans or advances during year		1,096			2,454
Repayments during year		(1,257	)		(1,909	)
Aggregate amount outstanding, end of year	$	5,734		$	5,895

Related party deposits totaled

$10,900,000

and

$52,479,000

at

December 

31,

2019

and

2018,

respectively.

From time to time, some of the Company’s Directors, directly or through affiliates,

may

perform services for the Bank. These activities are performed in the ordinary course of the Bank’s business and are subject to strict compliance with the policies outlined below. In

2019,

the Company paid

$235,000

to Design Studio

120,

a company affiliated with a Director’s daughter, for renovation and design work performed in connection with various projects and maintenance on the Bank’s branches. In

2018,

the Company paid

$430,000

to Design Studio

120

for similar services in connection with new branches in Sacramento, Sonora and Turlock that opened in

2018.

Except for such payments,

no

other material services or activities were performed for purposes of Item

404

(a) of Regulation S-K under the Exchange Act.