RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2016

(18) RELATED PARTY TRANSACTIONS

The Bank has made, and expects in the future to continue to make in the ordinary course of business, loans to directors and executive officers of the Company and their affiliates. In management’s opinion, these transactions with directors and executive officers were made on substantially the same terms as those prevailing at the time for comparable transactions with other persons and did not involve more than the normal risk of collectibility or present any other unfavorable features. A summary of such outstanding loans is as follows:


		Amount
		(In thousands)
Loans outstanding at December 31, 2015		$ 16,166
New loans to related parties, net of repayments		6,141
Changes in directors and executive officers		(70)
Loans outstanding at December 31, 2016		$ 22,237

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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