Profit Sharing Plan

12 Months Ended

Dec. 31, 2019

Profit Sharing Plan

Profit Sharing Plan

Note 9. Profit Sharing Plan

Both Delmarva and Partners have a defined contribution 401(k) profit sharing plan covering substantially all full‑time employees. Under the 401(k) provision both banks are currently matching 50% of employee contributions of up to 6% of their compensation as defined under the plan. Partners also retains a discretionary profit sharing plan in which the bank contributes 3% of the employees’ pay regardless of whether the employees contribute. Additional employer contributions are at the discretion of the Board of Directors. The Company’s contributions to this plan totaled $207thousand and $169 thousand, for the years ended December 31, 2019 and 2018, respectively.