Related Party Transactions

12 Months Ended

Dec. 31, 2011

Related party transactions abstract

Related Party Transactions Disclosure Text Block

NOTE 19: RELATED PARTY TRANSACTIONS

A director of the Company is an officer in a construction company that the Company contracted with during 2011 and 2008 for the construction of two new branch facilities. Total payments made to the construction company under the terms of the construction contracts were $844 thousandand $587 thousand for the years ended December 31, 2011 and December 31, 2009, respectively. No payments were made to the construction company for the year ended December 31, 2010.

Another executive officer and director of the Company is the owner of a heating and air conditioning company that the Company contracted with during 2011 for the replacement and improvement of the heating and cooling systems in the Bank's 23,000 square foot operations center. Total payments made to the heating and air conditioning company under the terms of the contract were $200 thousand for the year ended December 31, 2011.

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, the Bank, and their affiliates. In management's opinion, these loans were made in the ordinary course of business at normal credit terms, including interest rate and collateral requirements, and do not represent more than normal credit risk. An analysis of such outstanding loans is presented below.

(Dollars in thousands)			Amount
Loans outstanding at December 31, 2010		$	4,048
New loans/advances			4,749
Repayments			(3,347)
	Loans outstanding at December 31, 2011	$	5,450

During2011 and 2010, certain executive officers and directors of the Company and the Bank, including companies with which they are affiliated, were deposit customers of the bank. Total deposits for these persons at December 31, 2011 and 2010 amounted to $18.4 million and $18.7 million, respectively.