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T Bancshares, Inc.
|
10-K
Mar 29, 3:52 PM ET
T Bancshares, Inc. 10-K
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Contents
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NOTE 9. BENEFIT PLANS
The Company funds certain costs for medical benefits in amounts determined at the discretion of management. The Company has a retirement savings 401(k) plan covering substantially all employees. The Company made matching employee contributions during the years ended December 31, 2016 and 2015. An employee may contribute up to 6% of his or her annual compensation with the Company matching 100% of the employee’s contribution on the first 1% of the employee’s compensation and 50% of the employee’s contribution on the next 5% of the employee’s compensation. Employer contributions charged to expense were $132,000 and $126,000 for the years ended December 31, 2016 and 2015, respectively.