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RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2020
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
18. RELATED PARTY TRANSACTIONS
In the ordinary course of business, from time to time the Company enters into transactions with related parties, including, but not limited to, its officers and directors. These transactions are made on substantially the same terms and conditions, including interest rates and collateral requirements, as those prevailing at the same time for comparable transactions with other customers. They do not, in the opinion of management, involve greater than normal credit risk or include other features unfavorable to the Company. Any related party loans exceeding $0.5 million require review and approval by the Board of Directors. During the three and six months ended June 30, 2020, there were two loans originated to related parties exceeding $0.5 million, both of which were sold during the second quarter. During the three and six months ended June 30, 2019, there were no loans originated to related parties exceeding $0.5 million.
The outstanding balances of loans to related parties at June 30, 2020 and December 31, 2019 were $0.3 million and $1.0 million, respectively. Total deposits from related parties at June 30, 2020 and December 31, 2019 were $6.1 million and $4.9 million, respectively. During the second quarter of 2020, there were two new loans and credit line advances to related parties totaling $1.1 million and repayments were $0.7 million.