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		(4,657	)
Loans outstanding at June 30, 2018	$	17,966

Unfunded commitments to certain executive officers and directors and their associates totaled $10,189 and $4,672 at June 30, 2018 and December 31, 2017, respectively.

(B) Deposits:

The Bank held deposits from related parties totaling $238,891 and $110,465 as of June 30, 2018 and December 31, 2017, respectively.

The Bank leases various office spaces from entities under operating leases related to the former majority shareholder and his son, who is also a Director of the Company, under varying terms. The Company had $126 and $137 in unamortized leasehold improvements related to these leases at June 30, 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 $111 and $259 for the three and six months ended June 30, 2018, respectively, and $124 and $250 for the three and six months ended June 30, 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 of this included in other assets was $127 and $200 as of June 30, 2018 and December 31, 2017, respectively.

(E) Aviation time sharing agreement:

The Company has an aviation time sharing agreement with an entity owned by the Company’s Board of director chairman and his son, who is also a Director of the Company. This replaces the previous agreement dated December 21, 2012. The Company made payments of $53 and $125 during the three and six months ended June 30, 2018, respectively, and $2 and $27 during the three and six months ended June 30, 2017, respectively, under these agreements.

(F) Registration rights agreement:

The Company is party to a registration rights agreement with its former majority shareholder entered into in connection with the 2016 IPO, under which the Company is responsible for payment of expenses (other than underwriting discounts and commissions) relating to sales to the public by the shareholder of shares of the Company’s common stock beneficially owned by him. Such expenses include registration fees, legal and accounting fees, and printing costs payable by the Company and expensed when incurred. During the second quarter of 2018, the Company paid $0.7 million under this agreement.