RELATED-PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2014

Related Party Transactions [Abstract]

RELATED-PARTY TRANSACTIONS

14. RELATED-PARTY TRANSACTIONS

Certain of the Company’s directors, officers, principal stockholders, and their associates were customers of, or had transactions with, the Company or the Bank in the ordinary course of business during 2014 and 2013. Some of the Company’s directors are directors, officers, trustees, or principal securities holders of corporations or other organizations that also were customers of, or had transactions with, the Company or the Bank in the ordinary course of business during 2014 and 2013.

All outstanding loans and other transactions with the Company’s directors, officers, and principal shareholders were made in the ordinary course of business on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons and, when made, did not involve more than the normal risk of collectability or present other unfavorable features.

The following table summarizes the activity in these loans during 2014 and 2013:

	Years Ended December 31,
	2014			2013
Balance at beginning of year	$	14,522,184		$	11,799,716
New loans		2,841,922			6,517,864
Repayments		(5,392,794	)		(3,795,396	)
Balance—end of year	$	11,971,312		$	14,522,184

Deposits by directors, executive officers of the Company, the Bank, and associates of such persons, totaled $5,645,426 and $6,294,099 at December 31, 2014 and 2013, respectively.