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BANK OWNED LIFE INSURANCE	12 Months Ended
Dec. 31, 2018
Bank Owned Life Insurance
BANK OWNED LIFE INSURANCE	NOTE 15 BANK OWNED LIFE INSURANCE At both December 31, 2018 and 2017, we had an aggregate total cash surrender value of $4.5 million on life insurance policies covering current and former key officers. In December 2017, several policies were surrendered due to their lagging financial performance. This transaction resulted in net proceeds of $7.6 million after the effect of a tax penalty of $318 thousand. Total income for the policies during 2018 and 2017 was $57 thousand and $115 thousand, respectively.

BANK OWNED LIFE INSURANCE

12 Months Ended

Dec. 31, 2018

NOTE 15 BANK OWNED LIFE INSURANCE

At both December 31, 2018 and 2017, we had an aggregate total cash surrender value of $4.5 million on life insurance policies covering current and former key officers. In December 2017, several policies were surrendered due to their lagging financial performance. This transaction resulted in net proceeds of $7.6 million after the effect of a tax penalty of $318 thousand.

Total income for the policies during 2018 and 2017 was $57 thousand and $115 thousand, respectively.