Note 11 - Retirement Plans

12 Months Ended

Dec. 31, 2017

Supplemental Employee Retirement Plan [Member]

Notes to Financial Statements

Pension and Other Postretirement Benefits Disclosure [Text Block]

11

.

Retirement Plans

The Company

maintains a salary savings plan that covers substantially all of its employees. In

2017,

2016,

and

2015,

the Company matched voluntary tax deferred employee contributions at

50%

of eligible deferrals up to a maximum of

6%

of the participants’ compensation. Effective

January 1, 2018,

the match will increase to

66.667%

applied to eligible contributions that do

not

exceed

6%

of the participants’ compensation with a maximum employer matching contribution of

4%.

The Company

may,

at the discretion of its Board, contribute an additional amount based upon a percentage of covered employees’ salaries. The Company did

not

make a discretionary contribution during

2017,

2016,

or

2015.

Discretionary contributions are allocated among participants in the ratio that each participant’s compensation bears to all participants’ compensation.

Eligible employees are presented with

numerous investment alternatives related to the salary savings plan. Those alternatives include various stock and bond mutual funds ranging from traditional growth funds to more stable income funds as well as an option to invest in bank certificates of deposits. Company shares are

not

an available investment alternative in the salary savings plan. Total retirement plan expense for

2017,

2016,

and

2015

was

$522

thousand,

$563

thousand, and

$531

thousand

,

respectively.

In connection with

its acquisition of Citizens Bank of Northern Kentucky, Inc., the Company acquired nonqualified supplemental retirement plans for certain key employees. Benefits provided under these plans are unfunded, and payments to plan participants are made by the Company.

The following schedules set forth a reconciliation of the changes in the

supplemental retirement plans’ benefit obligation and funded status for the years ended

December 31, 2017

and

2016

.

(In thousands)	201 7			201 6
Change in Benefit Obligation
Obligation at beginning of year	$	718		$	600
Service cost		22			19
Interest cost		23			24
Actuarial (gain) loss		(180	)		111
Benefit payments		(36	)		(36	)
Obligation at end of year	$	547		$	718

The following table provides disclosure of the net periodic benefit cost as of

December 31

for the years indicated

.

(In thousands)	201 7			201 6
Service cost	$	22		$	19
Interest cost		23			24
Recognized net actuarial loss		5			5
Net periodic benefit cost	$	50		$	48
Major assumptions:
Discount rate used to determine net period benefit cost		3.31	%		3.39	%
Discount rate used to determine benefit obligation at year end		2.86			3.31
Rate of compensation increase		4.00			4.00

The following table presents estimated future benefit payments in the period indicated.

(In thousands)	Supplemental Retirement Plan
201 8	$	58
201 9		60
20 20		60
20 21		60
20 22		56
2023-2027		219
Total	$	513

Amounts recognized in accumulated other

comprehensive income as of

December 31, 2017

and

2016

are as follows:

(In thousands)	201 7			201 6
Unrecognized net actuarial (gain) loss	$	(98	)	$	87
Total	$	(98	)	$	87

The estimated cost that will be amortized from accumulated other comprehensive income into net periodic

benefit cost over the next fiscal year is as follows:

(In thousands)	Supplemental Retirement Plan
Unrecognized net actuarial gain	$	(5	)
Total	$	(5	)