This excerpt taken from the FMSB DEF 14A filed Mar 16, 2007.
Transactions with Related Parties
There have been no related-party transactions in 2004, 2005 or 2006.
The Board of Directors has determined that the Nominations and Corporate Governance Committee is best suited to review and approve related-party transactions. For these purposes a related-party transaction is a transaction between the Company/Bank and any related party including transactions requiring disclosure under Item 404 of Regulation S-K under the Securities and Exchange Act of 1934, other than transactions available to all employees generally.
A related-party transaction may be consummated and/or continued if the Nominations and Corporate Governance Committee approves such transaction in accordance with the guidelines set forth above and if the transaction is on terms comparable to those that could be obtained in arms length dealings with an unrelated third party.
Any related-party transaction shall be disclosed by the Committee to the full Board and in the Companys applicable filings as required by the SEC and related rules.