Related Party Transactions

12 Months Ended

Dec. 31, 2013

Related Party Transactions [Abstract]

Related Party Transactions

NOTE 11, Related Party Transactions

In the ordinary course of business, the Company has granted loans to principal shareholders, executive officers and directors and their affiliates. These loans were made on substantially the same terms and conditions, including interest rates, collateral and repayment terms, as those prevailing at the same time for comparable transactions with unrelated persons, and, in the opinion of management and the Company's board of directors, do not involve more than normal risk or present other unfavorable features. None of the principal shareholders, executive officers or directors had direct or indirect loans exceeding 10 percent of stockholders' equity at December 31, 2013.

Annual activity consisted of the following:

	2013			2012
	(in thousands)
Balance, beginning of year	$	1,902		$	2,048
Additions		1,002			0
Reductions		(315	)		(146	)
Balance, end of year	$	2,589		$	1,902

Deposits from related parties held by the Company at December 31, 2013 and 2012 amounted to $9.5 million and $13.4 million, respectively. One member of the Company's Board of Directors is an attorney and was assigned $10.9 million of settlement funds in 2010 which were deposited at the Company. As court approval was obtained, these funds were disbursed in 2011, 2012, and 2013. There were no undisbursed funds remaining in the account at December 31, 2013.