Related Party Transactions

12 Months Ended

Dec. 31, 2017

Related Party Transactions

Related Party Transactions

Note 23—Related Party Transactions

During 2017 and 2016, 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 $7.8 million and $35.4 million at December 31, 2017 and 2016 respectively. During 2017, $14.2 million of new loans were made to this group while repayments of $14.5 million were received during the year. There were also additions to related party loans of $3.7 million due to the addition of new directors through acquisitions in 2017 and there were reductions to related party loans of $31.0 million due to the retirement of directors in 2017.   Related party deposits totaled approximately $20.8 million and $19.3 million at December 31, 2017 and 2016, respectively.