Note 17 - Employee Benefit Plans -

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

Note

1

7

– Employee Benefit Plans –

Defined Contribution Plan

The Bank has a defined contribution plan qualified under Internal Revenue Code

401

(K) for those employees who meet the eligibility requirements. Contributions

may

be made by eligible employees subject to Internal Revenue Service limits. The Bank contributes a matching contribution up to

4%

of wages which totaled

$967,000,

$690,000

and

$542,000

and is included in salaries and employee benefits for the years ended

December 31, 2019,

2018

and

2017,

respectively.

Deferred Compensation

The Company has established certain unfunded nonqualified deferred compensation agreements for the purpose of providing deferred compensation as retirement benefits for a select group of management. At

December 31, 2019

and

2018,

the Company had recorded accrued liabilities of

$2.5

million and

$2.4

million, respectively. The expense related to the deferred compensation agreements was

$256,000,

$224,000

and

$209,000

for the years ended

December 31, 2019,

2018

and

2017,

respectively.