Defined Pension Plans |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Retirement Benefits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Defined Pension Plans | Defined Pension Plans The Company had a noncontributory defined-benefit pension plan (the “Plan”), which covered eligible employees that was terminated in 2024. The Company recorded no net periodic pension cost for the three and nine months ended September 30, 2025, and $195,000 and $581,000 for the three and nine months ended September 30, 2024, respectively related to the Plan. In addition to the Plan, the Company has an unfunded supplemental executive retirement plan (the "SERP"). There are no current employees earning benefits and therefore, there is no service cost associated with the SERP. The following table represents the components of the net periodic cost for the SERP:
SERP cost recorded to expense was $113,000 and $338,000 for the three and nine month periods ended September 30, 2025, September 30, 2024, respectively.
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