Employee Benefits	12 Months Ended
Dec. 31, 2019
Employee Benefits
Employee Benefits	Note 11. 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 $19,000 in 2019 and $18,500 in 2018 ($25,000 in 2019 and $24,500 in 2018 for employees over the age of 50). Through December 31, 2019, the Company has only made “qualified nonelective contributions” to maintain compliance with IRS regulations. 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, 2019, December 31, 2018 and December 31, 2017, Company contributions totaled approximately $1.6 million, $1.4 million and $1.0 million, respectively. Deferred Compensation Plan Pursuant to the Company’s deferred compensation plan (the Deferred Compensation Plan), eligible senior level employees are permitted to make elective deferrals of compensation to which they will become entitled in the future. The Company has 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 $3.7 million and $2.0 million as of December 31, 2019 and December, 31, 2018, 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 $3.5 million and $1.9 million as of December 31, 2019 and December 31, 2018, respectively.

Employee Benefits

12 Months Ended

Dec. 31, 2019

Note 11. 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 $19,000 in 2019 and $18,500 in 2018 ($25,000 in 2019 and $24,500 in 2018 for employees over the age of 50). Through December 31, 2019, the Company has only made “qualified nonelective contributions” to maintain compliance with IRS regulations. 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, 2019, December 31, 2018 and December 31, 2017, Company contributions totaled approximately $1.6 million, $1.4 million and $1.0 million, respectively.

Deferred Compensation Plan

Pursuant to the Company’s deferred compensation plan (the Deferred Compensation Plan), eligible senior level employees are permitted to make elective deferrals of compensation to which they will become entitled in the future. The Company has 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 $3.7 million and $2.0 million as of December 31, 2019 and December, 31, 2018, 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 $3.5 million and $1.9 million as of December 31, 2019 and December 31, 2018, respectively.