Note 15 - Employee Benefit Plans

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

( 15 ) Employee Benefit Plans

The Company maintains a profit-sharing plan for eligible employees. Contributions to the Plan are made in the form of matching contributions to employee

401

(k) deferrals, as well as discretionary profit-sharing amounts determined by the Board of Directors to be funded by

March 15

following each fiscal year. Contributions to the Plan were approximately

$1.0

million,

$1.1

million and

$0.8

million for the years

2019,

2018

and

2017,

respectively.

The Company has a partially self-insured health insurance program that covers all eligible participating employees. The maximum liability is limited by a stop loss of

$225

thousand per insured person, along with an aggregate stop loss determined by the number of participants.

The Company has an Executive, Non-qualified “Excess” Plan (“the Plan”), which is a deferred compensation plan available to certain executives. The Plan permits participants to defer receipt of part of their current compensation to a later date as part of their personal retirement or financial planning. Participants have an unsecured contractual commitment from the Company to pay amounts due under the Plan.

The compensation withheld from Plan participants, together with gains or losses determined by the participants’ deferral elections is reflected as a deferred compensation obligation to participants and is classified within the liabilities section in the accompanying balance sheets. At

December 31, 2019

and

2018,

the balance of the deferred compensation liability totaled approximately

$2.8

million and

$2.0

million, respectively. The related assets, which are held in the form of a Company-owned, variable life insurance policy that names the Company as the beneficiary, are classified within the other assets section of the accompanying balance sheets and are accounted for based on the underlying cash surrender values of the policies and totaled approximately

$2.8

million and

$2.0

million as of

December 

31,

2019

and

2018,

respectively.