Note 28 - Related Party Transactions

12 Months Ended

Dec. 31, 2016

NOTE

28.

RELATED PARTY TRANSACTIONS

Some of the directors, and executive officers (and their associated or affiliated companies) were customers of and had banking transactions with us in the ordinary course of our business and we expect to have such transactions in the future. All deposits, loans and commitments to fund loans included in such transactions were made in compliance with the applicable laws on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons of similar creditworthiness.

The following table presents a summary of aggregate activity involving related party borrowers for the years ended

December

31,

2016

and

2015.

(Amounts in thousands)	2016			2015
Balance at beginning of year	$	13,707		$	13,654
New loan additions		—			916
Advances on existing lines of credit		24,447			19,643
Principal repayments		(24,730	)		(20,487	)
Reclassifications (1)		—			(19	)
Balance at end of year	$	13,424		$	13,707

(1)

Represents loans that were once considered related party but are no longer considered related party, or loans that were not related party that subsequently became related party loans.

December

31,

2016

and

2015,

deposits of related parties amounted to

$6.0

million and

$4.1

million, respectively. As of

December

31,

2016

and

2015,

there were no related party loans which were past due or adversely classified. At

December

31,

2016

and

2015

there was

$8.8

million, and

$8.4

million, respectively, in outstanding loan commitments to related parties. In our opinion, these transactions did not involve more than a normal risk of collectability or present other unfavorable terms.