XML 109 R92.htm IDEA: XBRL DOCUMENT v3.3.1.900
Employee Benefit Plans (Details Narrative) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Matching contributions to 401(k) plan cost $ 167 $ 140 $ 91
Post-retirement Benefits Plan [Member]      
Benefit expense 2 (20) (11)
Benefit obligation 127 149  
Deferred Compensation Plans - Directors [Member]      
Benefit expense 12 12 14
Benefit obligation $ 173 203  
Description of benefit plan

A deferred director compensation plan covers former directors of VRB, which was acquired by ChoiceOne in 2006. Under the plan, ChoiceOne pays each former director the amount of director fees deferred plus interest at rates ranging from 5.50% to 5.84% over various periods as elected by each director. The payout periods range from one month to ten years beginning with the individual’s termination of service.

   
Deferred Compensation Plans - Executive Officers [Member]      
Benefit expense $ 32 (42) $ 1
Benefit obligation $ 618 $ 664  
Description of benefit plan

A supplemental executive retirement plan covers four former executive officers of VRB. Under the plan, ChoiceOne pays these individuals a specific amount of compensation plus interest at 7.50% over a 15-year period commencing upon early retirement age (as defined in the plan) or normal retirement age (as defined in the plan).