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Benefit plans
12 Months Ended
Dec. 31, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]  
Compensation and Employee Benefit Plans
Benefit plans

401(k) profit sharing plan

The Company maintains a 401(k) profit sharing plan (the “Plan”) that covers substantially all full-time employees. Employees may make voluntary tax-deferred contributions to the Plan, and the Company’s contributions to the Plan are at the discretion of the Board, not to exceed the amount deductible for federal income tax purposes.

Employees vest in the Company’s contributions to the Plan over a period of five years. The total amounts charged to operations under the Plan were approximately $0.5 million, $0.5 million and $0.2 million for the years ended December 31, 2013, 2012 and 2011, respectively.

Other benefit plans

The Bank has deferred compensation plans for the Board and certain key executives and managers, and a salary continuation plan and a supplemental executive retirement (“SERP”) plan for certain key executives. In accordance with the provisions of the deferred compensation plans, participants can elect to defer portions of their annual compensation or fees. The deferred amounts generally vest as deferred. The deferred compensation plus interest is generally payable upon termination in either a lump-sum or monthly installments.

The salary continuation and SERP plans for certain key executives provide specified benefits to the participants upon termination or change of control. The benefits are subject to certain vesting requirements, and vested amounts are generally payable upon termination or change of control in either a lump-sum or monthly installments. The Bank annually expenses amounts sufficient to accrue for the present value of the benefits payable to the participants under these plans. These plans also include death benefit provisions for certain participants.

To assist in the funding of these plans, the Bank has purchased BOLI policies on the majority of the participants. The cash surrender value of the general account policies at December 31, 2013 and 2012 was approximately $8.7 million and $8.4 million, respectively. The cash surrender value of the separate account policies, including the value of the stable value wraps, was approximately $27.9 million and $27.3 million at December 31, 2013 and 2012, respectively. At December 31, 2013 and 2012, the liabilities related to the deferred compensation plans included in other liabilities in the accompanying consolidated balance sheets totaled approximately $3.9 million and $4.0 million, respectively. The amount of expense charged to operations in 2013, 2012, and 2011 related to the deferred compensation plans was approximately $0.1 million, $0.2 million, and $0.4 million, respectively. As of December 31, 2013 and 2012, the liabilities related to the salary continuation and SERP plans included in other liabilities in the accompanying consolidated balance sheets totaled approximately $12.7 million and $12.5 million, respectively. The amount of expense (benefit) charged to operations in 2013, 2012, and 2011 for the salary continuation, SERP and fee continuation plan was $0.8 million, $(0.5) million and $3.8 million, respectively. The decrease in 2012 was a result of adjustments on certain participant’s benefits to change their payouts. Additionally, a benefit was recorded to adjust for the anticipated payouts of certain participants based on their expected future retirement dates. The higher amount in 2011 was related to executive transition costs and changes in the estimated periods over which future benefits will be paid.