Note 10 - Bank-Owned Life Insurance

12 Months Ended

Dec. 31, 2014

Investments, All Other Investments [Abstract]

Life Insurance, Corporate or Bank Owned [Text Block]

10. Bank-Owned Life Insurance

The Company owns two fully-funded general account life insurance policies on certain members of its leadership team. The Company paid all premiums on these policies during 2013 and is the sole beneficiary; however, the Company provides a $50 thousand death benefit to the beneficiaries of the covered teammates. Each policy was funded with a premium of $5.0 million paid to AA+ rated insurance companies. The policies are reflected in the Consolidated Balance Sheets at the cash surrender value of $10.4 million and $10.0 million at December 31, 2014 and 2013, respectively.

In addition, the Company has fully-funded life insurance policies on two former members of executive management who are retired from the Company. At both December 31, 2014 and 2013, the cash surrender value of these policies attributable to the Company totaled $1.6 million.