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Employee Benefit Plans
12 Months Ended
Dec. 31, 2015
Employee Benefit Plans [Abstract]  
Employee Benefit Plans

Note 16 – Employee Benefit Plans

The Company has a 401(k) plan available to all employees who are at least 18 years of age. Employees are able to elect the amount to contribute, not to exceed a maximum amount as determined by Internal Revenue Service regulation. Effective January 1, 2014, the company matched 100% of the first 6% of employee contributions.

“Vesting” refers to the rights of ownership to the assets in the 401(k) accounts. Effective January 1, 2013, matching contributions are fully vested immediately. Employee contributions to the plan have always been 100% vested.

The Company contributed $308,000 to the 401(k) plan in 2015 and $327,000 in 2014. This expense represents the matching contribution by the Company.