EMPLOYEE BENEFIT PLANS AND DEFERRED COMPENSATION ARRANGEMENTS	12 Months Ended
Dec. 31, 2021
EMPLOYEE BENEFIT PLANS AND DEFERRED COMPENSATION ARRANGEMENTS
EMPLOYEE BENEFIT PLANS AND DEFERRED COMPENSATION ARRANGEMENTS	NOTE 17: EMPLOYEE BENEFIT PLANS AND DEFERRED COMPENSATION ARRANGEMENTS Employee Benefit Plans The Company maintains a 401(k) employee benefit plan and substantially all employees that complete three months of service may participate. The Company matches a portion of each employee’s contribution and may, at its discretion, make additional contributions. During the years ended December 31, 2021 and 2020, the Company contributed $2.1 million and $2.1 million to the plan, respectively. Executive Deferred Compensation Arrangements The Company established an executive incentive compensation arrangement with several officers of the Bank, in which these officers are eligible for performance-based incentive bonus compensation. As part of this compensation arrangement, the Company contributes one-fourth of the incentive bonus amount into a deferred compensation account. The deferred amounts accrue at a market rate of interest and are payable to the employees upon separation from the Bank provided vesting arrangements have been met. At December 31, 2021 and 2020, the amount payable, including interest, for this deferred plan was $1.7 million and $2.0 million, respectively, which is included in other liabilities in the consolidated balance sheets. Salary Continuation Agreements The Company entered into a salary continuation arrangement in 2008 with the Company’s then President and Chief Executive Officer, or CEO, that calls for payments of $100,000 per year for a period of 10 years commencing at age 65. Payments under the plan began during 2014. The Company’s liability was $153,000 and $246,000 at December 31, 2021 and 2020, respectively, which is included in other liabilities in the consolidated balance sheets and equals the present value of the benefits expected to be provided. In October 2017, the Company entered into a salary continuation arrangement with the Company’s President and CEO that calls for payments of $200,000 per year payable for a period of 10 years commencing at age 70. Payments under the plan will begin in 2024. The Company’s liability was $900,000 and $640,000 at December 31, 2021 and 2020, respectively, which is included in other liabilities in the consolidated balance sheets. The liability will continue to accrue over the remaining period until payments commence such that the accrued amount at the eligibility date will equal the present value of all the future benefits expected to be paid.

EMPLOYEE BENEFIT PLANS AND DEFERRED COMPENSATION ARRANGEMENTS

12 Months Ended

Dec. 31, 2021

EMPLOYEE BENEFIT PLANS AND DEFERRED COMPENSATION ARRANGEMENTS

EMPLOYEE BENEFIT PLANS AND DEFERRED COMPENSATION ARRANGEMENTS

NOTE 17: EMPLOYEE BENEFIT PLANS AND DEFERRED COMPENSATION ARRANGEMENTS

Employee Benefit Plans

The Company maintains a 401(k) employee benefit plan and substantially all employees that complete three months of service may participate. The Company matches a portion of each employee’s contribution and may, at its discretion, make additional contributions. During the years ended December 31, 2021 and 2020, the Company contributed $2.1 million and $2.1 million to the plan, respectively.

Executive Deferred Compensation Arrangements

The Company established an executive incentive compensation arrangement with several officers of the Bank, in which these officers are eligible for performance-based incentive bonus compensation. As part of this compensation arrangement, the Company contributes one-fourth of the incentive bonus amount into a deferred compensation account. The deferred amounts accrue at a market rate of interest and are payable to the employees upon separation from the Bank provided vesting arrangements have been met. At December 31, 2021 and 2020, the amount payable, including interest, for this deferred plan was $1.7 million and $2.0 million, respectively, which is included in other liabilities in the consolidated balance sheets.

Salary Continuation Agreements

The Company entered into a salary continuation arrangement in 2008 with the Company’s then President and Chief Executive Officer, or CEO, that calls for payments of $100,000 per year for a period of 10 years commencing at age 65. Payments under the plan began during 2014. The Company’s liability was $153,000 and $246,000 at December 31, 2021 and 2020, respectively, which is included in other liabilities in the consolidated balance sheets and equals the present value of the benefits expected to be provided.

In October 2017, the Company entered into a salary continuation arrangement with the Company’s President and CEO that calls for payments of $200,000 per year payable for a period of 10 years commencing at age 70. Payments under the plan will begin in 2024. The Company’s liability was $900,000 and $640,000 at December 31, 2021 and 2020, respectively, which is included in other liabilities in the consolidated balance sheets. The liability will continue to accrue over the remaining period until payments commence such that the accrued amount at the eligibility date will equal the present value of all the future benefits expected to be paid.