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Benefit plans
12 Months Ended
Dec. 31, 2016
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Benefit plans
Benefit plans

401(k) profit sharing plan

The Company maintains a 401(k) profit sharing plan (the “Plan”) that covers substantially all full-time employees. Employees may make voluntary tax-deferred contributions to the Plan, and the Company’s contributions to the Plan are at the discretion of the Board, not to exceed the amount deductible for federal income tax purposes.

Employees vest in the Company’s contributions to the Plan over a period of 5 years. The total amounts charged to operations under the Plan were approximately $1.1 million, $0.9 million and $0.7 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Other benefit plans

The Bank has deferred compensation plans for the Board and certain key executives and managers, and a salary continuation plan and a supplemental executive retirement (“SERP”) plan for certain key executives. In accordance with the provisions of the deferred compensation plans, participants can elect to defer portions of their annual compensation or fees. The deferred compensation plus interest is generally payable upon termination in either a lump-sum or monthly installments.

The salary continuation and SERP plans for certain key executives provide specified benefits to the participants upon termination or change of control. The benefits are subject to certain vesting requirements, and vested amounts are generally payable upon termination or change of control in either a lump-sum or monthly installments. The Bank annually expenses amounts sufficient to accrue for the present value of the benefits payable to the participants under these plans. These plans also include death benefit provisions for certain participants.

To assist in the funding of these plans, the Bank has purchased BOLI policies on the majority of the participants. The cash surrender value of the general account policies at December 31, 2016 and 2015 was approximately $28.0 million and $25.9 million, respectively. The cash surrender value of the separate account policies, including the value of the stable value wraps, was approximately $28.9 million and $28.6 million at December 31, 2016 and 2015, respectively. At December 31, 2016 and 2015, the liabilities related to the deferred compensation plans included in other liabilities in the accompanying consolidated balance sheets totaled approximately $7.2 million and $7.4 million, respectively. The amount of expense charged to operations in 2016 and 2015, related to the deferred compensation plans was approximately $0.4 million, and in 2014 was $0.3 million, respectively. As of December 31, 2016 and 2015, the liabilities related to the salary continuation and SERP plans included in other liabilities in the accompanying consolidated balance sheets totaled approximately $19.0 million and $19.1 million, respectively. The amount of expense charged to operations in 2016, 2015, and 2014 for the salary continuation, SERP and fee continuation plan was $0.9 million, $1.4 million and $1.0 million, respectively.