Related Party Transactions

12 Months Ended

Dec. 31, 2014

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 18: RELATED PARTY TRANSACTIONS

A director of the Company is an officer in a construction company that the Company contracted with during 2014 to renovate a limited portion of the Bank’s operations center and to build out the leasehold improvements for the relocation of a bank branch. In 2012, the Company contracted with the same construction company for the construction of a new drive-through banking facility and completion of other site work on the Bank’s main office campus. Total payments made to the construction company under the terms of these contracts were $0.1 million, $0.4 million and $1.2 million for the years ended December 31, 2014, 2013, and 2012, respectively.

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 $82 thousand for the year ended December 31, 2012.

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, 2013		$	4,261
New loans/advances			1,685
Repayments			(1,105)
	Loans outstanding at December 31, 2014	$	4,841

During 2014 and 2013, 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, 2014 and 2013 amounted to $22.0 million and $20.3 million, respectively.