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		2,289
Repayments		(6,503	)
Loans outstanding at September 30, 2018	$	16,798

Unfunded commitments to certain executive officers and directors and their associates totaled $10,852 and $4,672 at September 30, 2018 and December 31, 2017, respectively.

(B) Deposits:

The Bank held deposits from related parties totaling $271,983 and $110,465 as of September 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 $121 and $137 in unamortized leasehold improvements related to these leases at September 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 $128 and $387 for the three and nine months ended September 30, 2018, respectively, and $127 and $377 for the three and nine months ended September 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 September 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 chairman of the Company’s Board of directors and his son, who is also a Director of the Company. The Company made payments of $36 and $127 during the three and nine months ended September 30, 2018, respectively, and $44 and $267 during the three and nine months ended September 30, 2017, respectively, under these agreements.

(F) Registration rights agreement:

The Company is party to a registration rights agreement with its chairman of the Company’s Board of directors (and former majority shareholder) that was 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 nine months ended September 30, 2018, the Company paid $671 thousand under this agreement related to the secondary offering completed during the second quarter of 2018.