Related-Party Transactions

12 Months Ended

Dec. 31, 2017

NOTE 11 – RELATED-PARTY TRANSACTIONS

In the ordinary course of business, loans are made by the Bank to executive officers, directors, and their related business interests consistent with Federal Reserve Regulation O.

The following is an analysis of activity of related-party loans for the years ended December 31:


(Dollars in thousands)	2017		2016

Balance at beginning of year	$	321	$	495
New loans and advances		478		84
Repayments, including loans sold		294		117
Changes in related parties¹		–		(141	)

Balance at end of year	$	505	$	321

¹The adjustment made in 2016 relates to the retirement of a senior management member.

Deposits from executive officers, directors, and their related business interests at December 31, 2017 and 2016 were approximately $2.1 million and $3.0 million.