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Note 15 - Employee Benefit Plans
 12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Compensation and Employee Benefit Plans, Other than Share-Based Compensation [Text Block]

15.

Employee Benefit Plans

 

We maintain a defined contribution retirement plan ("401(k) plan") for our U.S. employees that provides for a matching contribution by us. All full time U.S. employees are eligible to participate in the 401(k) plan. We made matching contributions of $0.8 million and $0.7 million for the years ended December 31, 2024 and 2023, respectively, which were included as a component of Salaries and benefits in the accompanying Consolidated Statements of Income. 

 

Also, all employees, excluding executive officers, are eligible to participate in the ESPP. Under the ESPP, employees can elect to have up to 10% of their annual wages withheld to purchase our common stock up to a fair market value of $10,000. The amounts deducted and accumulated by each participant are used to purchase shares of common stock on or as promptly as practicable after the last business day of each month. The price of stock purchased under the ESPP is approximately 85% of the fair market value per share of our common stock on the purchase date. Employees contributed $0.1 million to purchase 4,253 shares of common stock in 2024 and $0.1 million to purchase 3,929 shares of common stock in 2023 under the ESPP. The ESPP covers up to 500,000 shares of common stock. Our charge to expense associated with the ESPP was $47,000 and $36,000 in 2024 and 2023 respectively, which were included as a component of Salaries and benefits in the accompanying Consolidated Statements of Income.