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Other Benefit Plans
12 Months Ended
Dec. 31, 2024
Other Benefit Plans  
Other Benefit Plans

Note 10. Other Benefit Plans

The Company is the owner and beneficiary of BOLI policies on certain current and former employees. Cash value totaled $8.8 million and $8.7 million at December 31, 2024 and 2023, respectively. Income on insurance investment totaled $0.2 million for years ended 2024 and 2023.

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.