Note M - Related Party Transactions

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Note

- Related Party Transactions

Certain directors, executive officers and companies with which they are affiliated were loan customers during

201

A summary of activity on these borrower relationships with aggregate debt greater than

$120

is as follows:

Total loans at January 1, 201 7	$	5,945
New loans		25
Repayments		(221	)
Other changes		2,678
Total loans at December 31, 201 7	$	8,427

Other changes include adjustments for loans applicable to

one

reporting period that are excludable from the other reporting period, such as changes in persons classified as directors, executive officers and companies

’ affiliates.

Deposits from principal officers, directors, and their affiliates at year-end

2017

and

2016

were

$44,877

and

$38,867.

In addition, the Company had

one

promissory note outstanding with a director at year-end

2017

and

2016

totaling

$360

The note has a

three

-year term beginning

December 8, 2016

and carried an interest rate of

1.75%.