Related Party Balances and Transactions

12 Months Ended

Dec. 31, 2015

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

9. Related Party Balances and Transactions

In the ordinary course of business, the Bank maintains loan and deposit relationships with employees, principal officers and directors. The Bank has granted loans to principal officers and directors and their affiliates amounting to $2.2 million and $2.1 million at December 31, 2015 and 2014, respectively. During 2015, total principal additions and total principal reductions associated with these loans were $486,000 and $321,000, respectively. Deposits from principal officers and directors held by the Bank at December 31, 2015 and 2014 totaled $4.0 million and $5.0 million, respectively.

In addition, directors and their affiliates may provide certain professional and other services to the Corporation and the Bank in the ordinary course of business. During 2015, the Corporation did not pay affiliates for any such services. During 2014, amounts paid to affiliates for such services totaled $247,000.