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Long-Term Incentive Compensation Plan
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12 Months Ended |
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Dec. 31, 2011
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| Long-Term Incentive Compensation Plan [Abstract] | |
| Long-Term Incentive Compensation Plan | 14. LONG-TERM INCENTIVE COMPENSATION PLAN The Bank has entered into supplemental compensation benefits agreements with the directors and certain executive officers. The measurement of the liability under these agreements includes estimates involving life expectancy, length of time before retirement and the expected returns on the Bank-owned life insurance policies used to fund those agreements. Should these estimates prove materially wrong, the cost of these agreements could change accordingly. The related deferred compensation obligation to these directors and executive officers included in other liabilities was $3,069,704 and $3,103,778 as of December 31, 2011 and 2010, respectively. Non-employee directors may elect to defer payment of all or any portion of their First United Security Bank director fees under the United Security Bancshares, Inc. Non-Employee Directors' Deferred Compensation Plan (the "Plan"), and, beginning on January 1, 2012, all United Security Bancshares, Inc. director fees are deferred under the Plan. The Plan, which was ratified by shareholders at the annual meeting held on May 11, 2004, permits non-employee directors to invest their directors' fees and to receive the adjusted value of the deferred amounts in cash and/or shares of Bancshares' common stock. Neither the Company nor the Bank makes any contribution to participants' accounts under the plan. While not required by the plan, the Company established a grantor trust (Rabbi Trust) as an instrument to fund the stock portion of the plan. At December 31, 2011 and 2010, the grantor trust held 21,055 and 20,780 shares, respectively, of the Company's common stock. These shares have been classified in equity as treasury stock. The related deferred compensation obligation, included in other liabilities, was $557,068 and $476,878 as of December 31, 2011 and 2010, respectively. |