Note 12 - Defined Benefit Retirement Plan

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

( 12 ) Defined Benefit Retirement Plan

Bancorp sponsors an unfunded, non-qualified, defined benefit retirement plan for

three

key officers (

two

current and

one

retired), and has

no

plans to increase the number of or benefits to participants. Benefits vest based on

25

years of service.

All

three

officers are fully vested as of

September 2017.

Actuarially determined pension costs are expensed and accrued over the service period, and benefits are paid from Bancorp’s assets. Net periodic benefits costs, which include interest cost and amortization of net losses, totaled

$34

thousand and

$33

thousand for the

three

-month periods ended

September 30, 2017

and

2016,

respectively. For the

nine

months ended

September 30, 2017

and

2016,

the net periodic benefit costs totaled

$103

thousand and

$100

thousand, respectively.