Related Party Transactions

12 Months Ended

Dec. 31, 2016

Related Party Transactions

Related Party Transactions

Note 23—Related Party Transactions

During 2016 and 2015, the Company’s banking subsidiary had loan and deposit relationships with certain related parties, principally directors and executive officers, their immediate families and their business interests. All of these relationships were in the ordinary course of business at rates and terms substantially consistent with similar transactions with unrelated parties. Loans outstanding to this group (including immediate families and business interests) totaled $35.4 million and $23.6 million at December 31, 2016 and 2015 respectively. During 2016, $20.0 million of new loans were made to this group while repayments of $8.2 million were received during the year. Related party deposits totaled approximately $19.3 million and $20.4 million at December 31, 2016 and 2015, respectively.