v3.26.1
Note 8 - Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Defined Benefit Plans Disclosures [Table Text Block]

 

December 31,

 

 

2025

 

 

2024

 

Change in benefit obligation

 

 

 

 

 

 

Projected benefit obligation at beginning of year

 

$

26,060

 

 

$

25,750

 

Service cost (1)

 

 

991

 

 

 

1,042

 

Interest cost (2)

 

 

1,294

 

 

 

1,206

 

Actuarial loss (gain)(3)

 

 

808

 

 

 

(842

)

Benefits paid

 

 

(3,673

)

 

 

(1,096

)

Settlement gain

 

 

(33

)

 

 

-

 

Projected benefit obligation at end of year

 

$

25,447

 

 

$

26,060

 

Change in plan assets

 

 

 

 

 

 

Fair value of plan assets at beginning of year

 

$

39,208

 

 

$

32,509

 

Actual return on plan assets

 

 

4,828

 

 

 

4,795

 

Employer contribution

 

 

-

 

 

 

3,000

 

Benefits paid

 

 

(3,673

)

 

 

(1,096

)

Fair value of plan assets at end of year

 

$

40,363

 

 

$

39,208

 

Funded status at the end of the year

 

$

14,916

 

 

$

13,148

 

Amounts recognized in the Consolidated Balance Sheet

 

 

 

 

 

 

Deferred tax liabilities

 

$

(3,132

)

 

$

(2,761

)

Other assets

 

 

14,916

 

 

 

13,148

 

Total amounts recognized in the Consolidated Balance Sheet

 

$

11,784

 

 

$

10,387

 

Amounts recognized in accumulated other comprehensive loss, net

 

 

 

 

 

 

Net gain

 

$

1,633

 

 

$

415

 

Deferred tax liability

 

 

(343

)

 

 

(87

)

Amount recognized

 

$

1,290

 

 

$

328

 

Accrued/Prepaid benefit cost, net

 

 

 

 

 

 

Benefit obligation

 

$

(25,447

)

 

$

(26,060

)

Fair value of assets

 

 

40,363

 

 

 

39,208

 

Unrecognized net actuarial gain

 

 

(1,633

)

 

 

(415

)

Deferred tax liability

 

 

(2,789

)

 

 

(2,674

)

Prepaid pension cost included in other assets

 

$

10,494

 

 

$

10,059

 

 

 

For the Year Ended December 31,

 

Components of net periodic pension benefit

 

2025

 

 

2024

 

Service cost(1)

 

$

991

 

 

$

1,042

 

Interest cost(2)

 

 

1,294

 

 

 

1,206

 

Expected return on plan assets(2)

 

 

(2,768

)

 

 

(2,431

)

Recognized net actuarial gain due to settlement(2)

 

 

(68

)

 

 

-

 

Recognized net actuarial loss(2)

 

 

-

 

 

 

134

 

Net periodic benefit

 

$

(551

)

 

$

(49

)

Other changes in plan assets and benefit obligations recognized in other comprehensive income

 

 

 

 

 

 

Net gain

 

$

(1,217

)

 

$

(3,339

)

Deferred income tax expense

 

 

255

 

 

 

701

 

Total recognized

 

$

(962

)

 

$

(2,638

)

Total recognized in net periodic benefit and other comprehensive income

 

$

(1,768

)

 

$

(3,388

)

Weighted average assumptions at end of the year

 

 

 

 

 

 

Discount rate used for net periodic pension cost

 

 

5.50

%

 

 

4.75

%

Discount rate used for disclosure

 

 

5.25

%

 

 

5.50

%

Expected return on plan assets

 

 

7.50

%

 

 

7.50

%

Rate of compensation increase

 

 

4.00

%

 

 

4.00

%

Schedule of Defined Benefit Plans, Components of Actuarial (Gain) Loss [Table Text Block]

 

For the Year Ended December 31,

 

Components of actuarial gain

 

2025

 

 

2024

 

(Gain) loss due to demographic changes

 

$

(123

)

 

$

727

 

Loss (gain) due to change in discount rate

 

 

931

 

 

 

(2,691

)

Loss due to change in rate of compensation increase

 

 

-

 

 

 

1,122

 

Actuarial loss (gain)

 

 

808

 

 

 

(842

)

Gain due to asset return

 

 

(2,060

)

 

 

(2,364

)

Actuarial gain with asset return

 

$

(1,252

)

 

$

(3,206

)

Schedule of Allocation of Plan Assets [Table Text Block]

 

Fair Value Measurements as of December 31, 2025

 

Asset Category

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash

 

$

1,828

 

 

$

1,828

 

 

$

-

 

 

$

-

 

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

 

U. S. companies

 

 

22,282

 

 

 

22,282

 

 

 

-

 

 

 

-

 

International companies

 

 

360

 

 

 

360

 

 

 

-

 

 

 

-

 

Equities mutual funds (1)

 

 

4,990

 

 

 

4,990

 

 

 

-

 

 

 

-

 

State and political subdivisions

 

 

50

 

 

 

-

 

 

 

50

 

 

 

-

 

Corporate bonds – investment grade (2)

 

 

10,853

 

 

 

-

 

 

 

10,853

 

 

 

-

 

Total pension plan assets

 

$

40,363

 

 

$

29,460

 

 

$

10,903

 

 

$

-

 

 

Fair Value Measurements as of December 31, 2024

 

Asset Category

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Cash

 

$

1,228

 

 

$

1,228

 

 

$

-

 

 

$

-

 

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

 

U. S. companies

 

 

21,373

 

 

 

21,373

 

 

 

-

 

 

 

-

 

International companies

 

 

200

 

 

 

200

 

 

 

-

 

 

 

-

 

Equities mutual funds (1)

 

 

6,532

 

 

 

6,532

 

 

 

-

 

 

 

-

 

State and political subdivisions

 

 

50

 

 

 

-

 

 

 

50

 

 

 

-

 

Corporate bonds – investment grade (2)

 

 

9,825

 

 

 

-

 

 

 

9,825

 

 

 

-

 

Total pension plan assets

 

$

39,208

 

 

$

29,333

 

 

$

9,875

 

 

$

-

 

Schedule of Expected Benefit Payments [Table Text Block]

Year

 

Estimated Benefit Payment

 

2026

 

$

2,549

 

2027

 

 

1,810

 

2028

 

 

1,849

 

2029

 

 

3,080

 

2030

 

 

1,065

 

2031 - 2035

 

 

12,081