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Bank Owned Life Insurance
12 Months Ended
Dec. 31, 2019
Investments, All Other Investments [Abstract]  
Bank Owned Life Insurance Bank Owned Life Insurance

At December 31, 2019 and 2018, the Company had investments in BOLI of $113.4 million and $110.9 million, respectively. The Company recorded noninterest income associated with the BOLI policies of $3.5 million, $3.4 million and $2.3 million for the years ending December 31, 2019, 2018 and 2017, respectively.
 
BOLI involves the purchasing of life insurance by the Company on a select group of employees where the Company is the owner and beneficiary of the policies. BOLI is recorded as an asset at its cash surrender value. Increases in the cash surrender value of these policies, as well as a portion of the insurance proceeds received, are recorded in noninterest income and are not subject to income tax, as long as they are held for the life of the covered parties.