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RETIREMENT PLANS
12 Months Ended
Dec. 31, 2018
Retirement Benefits [Abstract]  
RETIREMENT PLANS

NOTE 13 RETIREMENT PLANS

 

The Company has established a qualified defined contribution plan that covers all full time employees. The Company matches employee contributions up to a maximum of 3% of their salary. The Company contributed $318 thousand and $263 thousand to the defined contribution plan for 2018 and 2017, respectively. 

 

The Bank maintains a salary continuation plan for key executives which was established in 2002 and is funded by single premium life insurance policies. Expenses related to the plan were $4 thousand and $5 thousand for the years ended December 31, 2018 and 2017, respectively.