Employee Benefits |
12 Months Ended |
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Dec. 31, 2018 | |
| Postemployment Benefits [Abstract] | |
| Employee Benefits |
Employee Benefits
401(k) Plan
We have a Section 401(k) plan for the benefit of substantially all of our employees. We match 75 percent of participant contributions to the 401(k) plan up to 8 percent of each 401(k) plan participant’s annual compensation. Contributions to the 401(k) plan were $2.4 million, $2.0 million and $1.9 million for the years ended December 31, 2018, 2017 and 2016, respectively.
Bank-Owned Life Insurance
As of December 31, 2018, cash surrender value of bank-owned life insurance was $51.7 million. The Bank is the beneficiary under the policy. In the event of the death of a covered officer, we will receive the specified insurance benefit from the insurance carrier.
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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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