Employee Benefit Plans

12 Months Ended

Dec. 31, 2012

Employee Benefit Plans [Abstract]

Employee Benefit Plans

Note 11 – Employee Benefit Plans

The Bank has a 401(k) Retirement Savings Plan. Employees may contribute a percentage of their salary up to the maximum amount allowed by law. The Bank is obligated to contribute 50% of the employee's contribution, not to exceed 6% of the employee's annual salary. All employees who have completed one year of service with the Bank are eligible to participate. The Bank's contribution to this plan was $145,000, $139,000 and $127,000 for the years ended December 31, 2012, 2011 and 2010, respectively.

The Bank has an Employee Stock Ownership Plan ("ESOP") for the exclusive benefit of participating employees. The Bank recognized ESOP expense of $140,000 for the years ended December 31, 2012, 2011 and 2010, and had unallocated shares to participants in the plan totaling 33,000, 47,500 and 29,807 as of December 31, 2012, 2011 and 2010, respectively. The fair value of the unallocated shares at December 31, 2012 was $104,000.