Note 13 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2011

Pension and Other Postretirement Benefits Disclosure [Text Block]

Note 13.                 Employee Benefit Plans

The Company has a profit sharing plan which includes a provision designed to qualify under Section 401(k) of the Internal Revenue Code of 1986, as amended, to allow for participant contributions.  All employees are eligible to participate in the plan.  The Company matches 100% of the first 3% of employee contributions, and 50% of the next 3% of employee contributions, up to a maximum amount of 4.5% of an employee's compensation.  Additionally, at its discretion, the Company may make additional contributions to the plan which are allocated to the accounts of participants in the plan based on relative compensation.  Company contributions for the years ended December 31, 2011, 2010, and 2009 were as follows:

	2011		2010		2009
Matching contribution	$	929,869	$	875,138	$	856,781
Discretionary contribution		150,000		99,400		22,212
	$	1,079,869	$	974,538	$	878,993

The Company has entered into nonqualified supplemental executive retirement plans (“SERPs”) with certain executive officers.  The SERPs allow certain executives to accumulate retirement benefits beyond those provided by the qualified plans.  During the years ended December 31, 2011, 2010, and 2009, the Company expensed $190,105, $157,261, and $340,608, respectively, related to these plans.  As of December 31, 2011 and 2010, the liability related to the SERPs, included in other liabilities, was $2,630,060 and $2,556,955, respectively.  Payments in the amount of $117,000 were made in both 2011 and 2010.

The Company has entered into deferred compensation agreements with certain executive officers.  Under the provisions of the agreements, the officers may defer compensation and the Company matches the deferral up to certain maximums.  The Company’s matching contribution varies by officer and is a maximum of between $10,000 and $20,000 annually.  Interest on the deferred amounts is earned at The Wall Street Journal’s prime rate subject to a minimum of 6% and a maximum of 12% with such limits differing by officer.  The Company has also entered into deferred compensation agreements with certain management officers.  Under the provisions of the agreements the officers may defer compensation and the Company matches the deferral up to certain maximums.  The Company’s matching contribution differs by officer and is a maximum between 4% and 10% of officer’s compensation.  Interest on the deferred amounts is earned at The Wall Street Journal’s prime rate plus one percentage point, and has a minimum of 4% and shall not exceed 8%.  Upon retirement, the officer will receive the deferral balance in 180 equal monthly installments.  As of December 31, 2011 and 2010, the liability related to the agreements totals $4,202,733 and $3,469,525, respectively.

Changes in the deferred compensation agreements, included in other liabilities, are as follows for the years ended December 31, 2011, 2010 and 2009:

	2011			2010			2009
Balance, beginning	$	3,469,525		$	2,734,989		$	2,931,741
Company expense		414,478			369,950			474,431
Employee deferrals		381,616			371,374			355,887
Cash payments made		(62,886	)		(6,788	)		(1,027,070	)
Balance, ending	$	4,202,733		$	3,469,525		$	2,734,989