Note 14: Employee Benefits

The Company has a retirement savings 401(k) plan covering substantially all employees. Employees may contribute a percentage of their compensation, up to the maximum allowable by the IRS, with the Company matching 50 percent of the employee’s contribution on the first 5 percent of the employee’s compensation. Employer contributions charged to expense for the three months ended June 30, 2025 and 2024 were $19 and $19, respectively and $45 and $39 for the six months ended June 30, 2025 and 2024, respectively.

The Company has deferred compensation agreements with directors. The agreements provide for the payment of benefits at termination or retirement. The plan assets are comprised of Company stock held in a Rabbi Trust and cash assets. The cash balances earn a rate of return equivalent to the Moody’s Bond Indices Corporate AAA rate as of December 31^st of the prior year. The charge to expense for the agreements was $8 and $(19) for the three months ended June 30, 2025 and 2024, respectively and $(27) and $(13) for the six months ended June 30, 2025 and 2024, respectively . The liability accrued for these plans totaled $646 and $645 at June 30, 2025 and December 31, 2024, respectively.

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The Company has an Employee Stock Ownership Plan. See Note 18.