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Employee Benefit Plans
12 Months Ended
Dec. 31, 2016
Compensation And Retirement Disclosure [Abstract]  
Employee Benefit Plans

NOTE 15 - EMPLOYEE BENEFIT PLANS

The Company has a qualified 401(k) deferred compensation Retirement Savings Plan (the “Savings Plan”).  All employees of the Company who have completed at least 90 days of service and meet certain other eligibility requirements are eligible to participate in the Savings Plan.  Under the terms of the Savings Plan, employees may voluntarily defer a portion of their annual compensation pursuant to section 401(k) of the Internal Revenue Code.  The Company matches a percentage of the participants’ voluntary contributions up to 6% of gross wages.  In addition, at the discretion of the Board of Directors, the Company may make an additional profit sharing contribution to the Savings Plan.  Total expense was $506 thousand, $431 thousand and $336 thousand for the years ended December 31, 2016, 2015 and 2014, respectively.

During 2014 the Company adopted a profit sharing plan to provide associates not participating in a current incentive plan a vehicle for sharing in the success of the Company outside of existing wages and non-monetary benefits.  The Board of Directors approved a profit sharing amount equal to 1% of annual compensation for associates in 2016, 2015 and 2014.  The expense was $103 thousand, $82 thousand and $73 thousand for the years ended December 31, 2016, 2015 and 2014, respectively.

The Company maintains a deferred compensation plan for certain retirees.  Expense under this plan was $9 thousand for the year ended December 31, 2016 and $10 thousand for the years ended December 31, 2015 and 2014.  The liability under the deferred compensation plan at December 31, 2016 was $141 thousand and $149 thousand at December 31, 2015.

During 2015, the Company established a nonqualified deferred compensation plan for a select group of management or highly compensated eligible individuals.  Under the terms of the plan, eligible individuals may elect to defer receipt of their compensation to a later taxable year.  The Company has recorded both an asset and liability of equal amount that represents the amount of contributions and the payable due to the participants in the plan.  The recorded asset and liability was $345 thousand at December 31, 2016 and $67 thousand at December 31, 2015

As part of the NBOH acquisition the Company has a director retirement and death benefit plan for the benefit of prior members of the Board of Directors of NBOH.  The plan is designed to provide an annual retirement benefit to be paid to each director upon retirement from the Board or attaining age 70.  There are no additional benefits or participants being added to the plan and the liability recorded at December 31, 2016 and 2015 was $1 million and $929 thousand, respectively.  The benefit payment upon satisfying the plan’s requirements is a benefit to the qualifying director until death or a maximum of 15 years.  The expense under this plan was $130 thousand in 2016 and none in 2015.  

The Company assumed an employee stock ownership plan (“ESOP”) as part of the Tri-State acquisition that covered substantially all of their employees and officers.  The trustee had discretionary authority to purchase shares of common stock of Tri-State on the open market.  There were no contributions to the plan in 2016 or 2015.  During acquisition the Tri-State shares were converted to the Company’s shares and the trustee held 39,690 shares at December 31, 2016 and 2015.  The termination of this ESOP is still in process as of December 31, 2016.

The Company also has a postretirement health care benefit plan covering individuals retired from the Company that have met certain service and age requirements and certain other active employees that have met similar service requirements.  The Company is in the process of terminating the plan, which is expected to be completed within the next year or two.  A benefit was recognized under this plan for 2016 and 2015 of $184 thousand and $12 thousand, respectively, and an expense of $4 thousand in 2014.  The accrued postretirement benefit liability under this Plan was $70 thousand and $280 thousand at December 31, 2016 and 2015.  Due to the immateriality of the plan, the disclosures required under U.S. generally accepted accounting principles have been omitted.