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• ■ <br /> March 31.2011 • <br /> Catherine Mehelich <br /> Director of Economic Development <br /> 13065 Orono Parkway <br /> Elk River, MN 55330 <br /> Dear Catherine: <br /> Enclosed is The Bank of Elk River's 2011 Minnesota Business Assistance Form. <br /> The numbers reported are as requested, by positions not FTE's. As of December 31,2010,The Bank of <br /> Elk River's FTE was 76.49;this represents 71 full time and 13 part time employees. <br /> All full time employees are offered a Health and Dental Insurance Plan. Not all employees take the <br /> insurance,and there are different levels based on employee only,employee plus one,employee plus <br /> two,and family coverage. For employee only coverage the annual premium paid by the bank is <br /> $2580.24 plus a contribution to the employee's HSA account for$1500.00. The bank in addition to this <br /> has added a HSRA portion that will reimburse employees for a portion of their deductible if they go over <br /> a specified threshold. Dental insurance for employee coverage is$360.24. Therefore the hourly value to <br /> a full time employee for employee only coverage is$2.14 per hour and will vary depending on <br /> dependent coverage. <br /> The Bank also offers employees Basic Life Insurance and Long Term Disability Insurance which is <br /> approximately$:13 per hour. <br /> Sincerely, <br /> it C <br /> • Cynthia Barney <br /> Director of Human Resources/AVP <br /> Enc. <br /> 110 <br /> 630 Main Street, Elk River, MN 55330 p)763-441-1000 f)763-441-0847 www.thebankofelkriver.com Member FDIC <br />