RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2014

13. RELATED PARTY TRANSACTIONS

Certain executive officers, corporate directors or companies in which they have 10 percent or more beneficial ownership were indebted to the Bank. Such loans were made in the ordinary course of business at the Bank’s normal credit terms and do not present more than a normal risk of collection. A summary of loan activity for the years ended December 31, 2014 and 2013 with officers, directors, stockholders and associates of such persons is listed below (in thousands):

	Year Ended December 31,
	2014	2013
Balance, beginning of year	$ 4,263	$ 4,349
New loans	2,212	2,119
Repayments	(2,161)	(2,205)
Balance, end of year	$ 4,314	$ 4,263

- 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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