Note 7 - Related Party Balances and Transactions

12 Months Ended

Dec. 31, 2018

7.	Related Party Balances and Transactions

In the ordinary course of business, the Bank maintains loan and deposit relationships with employees, principal officers and directors and their affiliates. The Bank has granted loans to principal officers and directors and their affiliates amounting to

$5.3

million and

$5.1

million at

December

31,

2018

and

2017,

respectively. During

2018,

there was

$453,000

in principal additions as a result of the additional directors subsequent to the acquisition of Community First Bancorp, Inc. Total principal reductions associated with these loans were

$112,000.

Deposits from principal officers and directors and their affiliates held by the Bank at

December

31,

2018

and

2017

totaled

$3.2

illion and

$3.6

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

2018,

one

director was paid an immaterial amount for consulting services. The Corporation did

not

pay directors or their affiliates for any such services in

2017.