Note 19 - Related Party Transactions

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note

19

. Related Party Transactions

The Company engages in transactions with related parties in the normal course of business. Related parties include directors, executive officers, and principal shareholders and their immediate family members, business interests, and affiliates. All related party transactions are made on terms that are substantially the same as those prevailing at the time for similar transactions with unrelated parties, including interest rates and collateral. The following table presents the changes in loans with related parties during the periods indicated:

	Year Ended December 31,
	2018			2017
(Amounts in thousands)
Beginning balance	$	19,337		$	18,360
New loans and advances		7,142			942
Loan repayments		(4,676	)		(1,566	)
Reclassifications (1)		230			1,601
Ending balance	$	22,033		$	19,337

( 1 ) Changes related to the composition of the Company's directors, executive officers, and related insiders

Deposits with related parties totaled

$7.30

million as of

December 31, 2018,

and

$7.13

million as of

December 31, 2017.

Legal fees paid to related parties totaled

$67

thousand in

2018,

$44

thousand in

2017,

and

$104

thousand in

2016.

There was

no

lease expense paid to related parties in

2018,

compared to

$49

thousand in

2017

and

$95

thousand in

2016.

Other expense paid to related parties totaled

$4

thousand in

2018,

$63

thousand in

2017,

and

$34

thousand in

2016.

In addition, the Company repurchased

200,000

shares of its common stock from a related party in

2016

for

$4.20

million, which represented the stock’s fair market value as of the date of the transaction.