Note 17 - Employee Benefit Plans -

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

Note 17 – 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 $2.4 million, $2.3 million and $1.8 million and is included in salaries and employee benefits for the years ended December 31, 2023, 2022 and 2021, 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, 2023 and 2022, the Company had recorded accrued liabilities of $3.5 million and $3.0 million, respectively. The expense related to the deferred compensation agreements was $586,000, $507,000 and $408,000 for the years ended December 31, 2023, 2022 and 2021, respectively.