Note 13 - Supplemental Retirement Benefits

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Supplemental Retirement Benefits Disclosure [Text Block]

(13) Supplemental Retirement Benefits

The Company provides discretionary supplemental retirement benefits for certain retired officers, which will provide an annual benefit to these individuals for various terms following separation from employment. The Company recorded an expense of approximately

$4,000,

$4,000

and

$23,000

for the years ended

December

31,

2016,

2015

and

2014,

respectively. The present value of the supplemental retirement obligation has been calculated using a

4.0%

discount rate, and is included in other liabilities. Total projected future cash payments for the years ending

December

31,

2017

through

2019,

are approximately

$25,000

for each year.