A Mississippi bank defeated most claims in a former vice president’s lawsuit, but her claim seeking more than $900,000 in retirement benefits remains pending.

The executive retirement plan sponsored by Merchants and Farmer’s Bank of Holly Springs qualifies as a “top hat” plan exempt from certain protections guaranteed by the Employee Retirement Income Security Act, a federal judge ruled June 10. Former bank executive Lisa Dodson Jones therefore can’t bring ERISA fiduciary breach claims related to the bank’s failure to...