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 totaled $21 and $26 for the three months ended March 31, 2026 and 2025, 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 $9 for the three months ended March 31, 2026. For the three months ended March 31, 2025 a change in accounting method required an adjustement of $(35). The liability accrued for these plans totaled $714 and $691 at March 31, 2026 and December 31, 2025, respectively.

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