Note 17 - Defined Contribution Benefit Plan |
12 Months Ended |
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Dec. 31, 2024 | |
| Notes to Financial Statements | |
| Retirement Benefits [Text Block] |
Note 17. Defined Contribution Benefit Plan
The Bank adopted a 401(k) defined contribution plan on October 1, 2004, which is administered by Principal Investments. Participants have the right to contribute up to a maximum of 15% of pretax annual compensation or the maximum allowed by the Internal Revenue Code, whichever is less. The Bank began making a matching contribution to the plan on January 1, 2010. The Bank matches dollar for dollar up to 5% of eligible compensation up to the employee contribution of 5% of eligible compensation. The total amount the Bank matched during 2024, 2023, and 2022 was $1.1 million, $901,513, and $616,721, respectively.
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