Note (14)—Related party transactions:

(A) Loans:

The Bank has made and expects to continue to make loans to the directors, certain management and executive officers of the Company and their affiliates in the ordinary course of business.

An analysis of loans to executive officers, certain management, and directors of the Bank and their affiliates follows:

Loans outstanding at January 1, 2018	$	21,012
New loans and advances		1,611
Repayments		(1,537	)
Loans outstanding at March 31, 2018	$	21,086

Unfunded commitments to certain executive officers and directors and their associates totaled $6,373 and $4,672 at March 31, 2018 and December 31, 2017, respectively.

(B) Deposits:

The Bank held deposits from related parties totaling $107,453 and $110,465 as of March 31, 2018 and December 31, 2017, respectively.

The Bank leases various office spaces from entities related to the majority shareholder and his son, who is also a Director of the Company, under varying terms. The Company had $132 and $137 in unamortized leasehold improvements related to these leases at March 31, 2018 and December 31, 2017, respectively. These improvements are being amortized over a term not to exceed the length of the lease. Lease expense for these properties totaled $148 and $126 for the three months ended March 31, 2018 and 2017, respectively.

(D) Other Investments:

The Company holds an investment in a fund that was issued by an entity owned by one of its directors. The balance in the investment was $183 and $200 as of March 31, 2018 and December 31, 2017, respectively.

(E) Aviation time sharing agreement:

Effective May 24, 2016, the Company entered an aviation time sharing agreement with an entity owned by the majority shareholder and his son, who is also a Director of the Company. This replaces the previous agreement dated December 21, 2012. During the three months ended March 31, 2018 and 2017, the Company made payments of $72 and $25, respectively, under these agreements.