Note 18. Lease Commitments (Continued)  At December 31, 2012, the aggregate future minimum rental commitments (base rents) under this  noncancellable operating lease are as follows:  ar the year f  2013  2014  2015  2016  2017  Thereafter  Total  ;nding December 31,  $  $  Annual  Payments  117,700  117,700  117,700  117,700  117,700  114,583  703,083  Rent expense for 2012 and 2011 was $ 13 8,510 and $50,334, respectively.  Note 19. Concentration of Credit Risk  Note 20. Transactions With Related Parties  The majority of the Bank’s loans are made to customers in the Bank’s trade area and a substantial  portion ofthe loans are secured by real estate. Accordingly, the ultimate collectibility ofthe Bank’s  loan portfolio is susceptible to changes in local economic conditions including the agribusiness sector  and the real estate market. A summary of loans by type is shown in Note 4. Collateral required by the  Bank is determined on an individual basis depending on the nature of the loan and the fmancial  condition of the borrower. In addition, investment in state and municipal securities include  govemmental entities within the Bank’s market area.  During the year, officers and directors and their related interests were customers of and had  transactions with the Bank durmg the normal course of business. These transactions were made on  substantially the same terms as those prevailing for other customers and did not involve any abnormal  risk. Loan transactions to such related parties are shown in the following schedule:  2012 2011 Total toans, beginning of year $ 1,625,000 $ 605,000 Advances 1,557,000 1,237,000 Curtailments (1,492,000) (217,000) Total toans, end of year $ 1,690,000 $ 1,625,000  The Bank held related party deposits of approximately $3,277,000 and $1,511,000 at  December 31, 2012 and 2011, respectively.  (Continued) 33 BLUE RIDGE BANKSHARES, INC.  NOTES TO THE CONSOLIDATED FEVANCLU. STATEMENTS  December 31,2012 