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Deferred Compensation
12 Months Ended
Dec. 31, 2024
Deferred Compensation  
Deferred Compensation

Note 10: Deferred Compensation

The Company has entered into deferred compensation plans with various executive officers. The plans provide for the payment of specified amounts upon the executive officers' retirement. The liability is being accrued over the anticipated remaining period of employment. The accrued liability for the deferred compensation plans is included within accrued interest payable and other liabilities on the consolidated balance sheets and was $156,826 and $194,501 at December 31, 2024 and 2023, respectively. Deferred compensation expense included within salary and related benefits on the consolidated statements of operations was $8,641 and $18,481 for 2024 and 2023, respectively. Payments made in accordance with the plans totaled $46,316 and $54,152 during 2024 and 2023, respectively.