Note 13 - Deferred Compensation Plans

12 Months Ended

Dec. 31, 2016

Compensation and Employee Benefit Plans [Text Block]

13.	DEFERRED COMPENSATION PLANS

The Bank has entered into supplemental retirement compensation benefits agreements with certain directors and executive officers. The measurement of the liability under these agreements includes estimates involving life expectancy, length of time before retirem

ent 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

$3.5

million and

$3.6

million as of

December

31,

2016

and

2015,

respectively.

Non-employee directors

may

elect to defer payment of all or any portion of their Bancshares and Bank director fees

under Bancshares

’

Non-Employee Directors’ Deferred Compensation Plan (the “Deferral Plan”). The Deferral 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 Bancshares nor the Bank makes any contribution to participants

’ accounts under the Deferral Plan.