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Other Benefit Plans
12 Months Ended
Dec. 31, 2018
Other Benefit Plans  
Other Benefit Plans

Note 11. Other Benefit Plans

The Company is the owner and beneficiary of BOLI policies on certain current and former employees.  Cash value totaled $7.9 million and $8.7 million at December 31, 2018 and 2017, respectively.  Income on their insurance investment totaled $0.2 for years ended 2018 and 2017.  During 2018, the bank recognized gains on the redemption of life insurance contracts in the amount of $0.3 million.

The Bank has an unfunded grantor trust, as part of a change in control severance plan, covering substantially all employees.  Participants in the plan are entitled to cash severance benefits upon termination of employment, for any reason other than just cause, should a “change in control” of the Company occur.