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Deferred Compensation And Life Insurance
12 Months Ended
Dec. 31, 2011
Deferred Compensation And Life Insurance [Abstract]  
Deferred Compensation And Life Insurance

Note 10. Deferred Compensation and Life Insurance

Deferred compensation plans have been adopted for certain members of the Board of Directors for future compensation upon retirement. Under plan provisions aggregate annual payments ranging from $2 thousand to $8 thousand are payable for ten years certain, generally beginning at age 65. The liability accrued for compensation deferred under the plan amounts to $11 thousand and $22 thousand at December 31, 2011 and 2010, respectively.

Charges to income are based on present value of future cash payments, discounted at 8%, and amounted to $1 thousand and $2 thousand for 2011 and 2010, respectively.

The Bank is owner and beneficiary of life insurance policies on these directors. Policy cash values, net of policy loans, totaled $79 thousand and $74 thousand at December 31, 2011 and 2010 respectively.

In 2002, the Bank adopted a supplemental executive retirement plan to provide benefits for a member of management. Under plan provisions, aggregate fixed payments of $45 thousand are payable for 20 years certain, beginning on the executive's retirement date. The liability is calculated by discounting the anticipated future cash flows at 6.10%. The liability accrued for this obligation was $468 thousand at December 31, 2011 and 2010, respectively. Charges to income are based on changes in the cash value of insurance which funds the liability.