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Employee Benefits | 12 Months Ended
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Dec. 31, 2018
Employee Benefits |
Employee Benefits | Note 9. Employee Benefits Defined contribution plan The Company sponsors a defined contribution plan pursuant to section 401(k) of the U.S. Internal Revenue Code that allows participating employees to contribute up to 100% of their salary, to an annual maximum of $18,500 in 2018 and $18,000 in 2017 ($24,500 in 2018 and $24,000 in 2017 for employees over the age of 50). Through December 31, 2018, the Company has only made “qualified nonelective contributions” to maintain compliance with IRS regulations. No plan contributions were made by the Company for the year ended December 31, 2016. Beginning in 2017, the Company contributes a $0.50 match for every $1.00 contributed by a participating employee up to 6% of plan-eligible earnings, with such Company contributions becoming fully vested when participating employees reach the 3-year anniversary from their date of hire, giving credit for past service. For the years ended December 31, 2018 and December 31, 2017, Company contributions totaled approximately $1.4 million and $1.0 million, respectively. Deferred compensation plan Effective April 1, 2017, the Company established a deferred compensation plan (the Deferred Compensation Plan) for eligible senior level employees. The plan is designed to permit eligible employees to make elective deferrals of compensation to which he or she will become entitled in the future. The Company also established a rabbi trust that serves as an investment to shadow the Deferred Compensation Plan liability. The investments of the rabbi trust consist of company-owned life insurance policies (COLIs). The fair value of the Deferred Compensation Plan liability, included in other liabilities on the consolidated balance sheets, was approximately $2.0 million and $0.6 million as of December 31, 2018 and December 31, 2017, respectively and the cash surrender value of the COLIs, included in deposits and other assets on the consolidated balance sheets, which reflects the underlying assets at fair value, was approximately $1.9 million and $0.7 million as of December 31, 2018 and December 31, 2017, respectively.

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- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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