v3.26.1
BENEFIT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of changes in projected benefit obligations, fair value of plan assets and funded status
The following table sets forth the changes in benefit obligation, changes in plan assets and a reconciliation of the unfunded status and the assumptions used in determining the net periodic cost included in the accompanying consolidated financial statements for the Company’s post retirement plans. The measurement date for the post retirement plans was December 31 for each year presented.
SERP and DRPPost Retirement
2025202420252024
(In thousands)
Change in benefit obligation:
Projected benefit obligation at beginning of year$2,852 $2,903 $1,157 $1,047 
Service cost89 102 — — 
Interest cost164 151 59 48 
Actuarial (gain) loss159 (16)254 153 
Benefits paid(296)(288)(99)(91)
Projected benefit obligation at end of year$2,968 $2,852 $1,371 $1,157 
Reconciliation of plan assets:
Fair value of plan assets at beginning of year— — — — 
Employer contributions296 288 99 91 
Benefits and Settlements paid(296)(288)(99)(91)
Fair value of plan assets at end of year$— $— $— $— 
Unfunded status$2,968 $2,852 $1,371 $1,157 
Schedule of amount recognized in accumulated other comprehensive income
Amounts recognized in accumulated other comprehensive income at December 31, ignoring tax effects, consist of:
SERP and DRPPost Retirement
2025202420252024
(In thousands)
Unrecognized net actuarial loss (gain)$432 $313 $(151)$(431)
Unrecognized prior service cost4 10 — — 
Total accumulated other comprehensive loss (gain)$436 $323 $(151)$(431)
Schedule of plan assumptions
The weighted average assumptions used in the determination of benefit obligations as of December 31 were as follows:
SERP and DRPPost Retirement
2025202420252024
Discount rate4.73 %5.18 %5.04 %5.34 %
The weighted-average assumptions used in the determination of net periodic benefit cost were as follows:
SERP and DRPPost Retirement
2025202420252024
Discount rate5.08 %4.54 %5.24 %4.64 %
Expected rate of return on plan assets N/A  N/A N/AN/A
Schedule of net periodic benefit cost and other amounts recognized in OCI
The components of net periodic benefit cost and other amounts recognized in other comprehensive income were as follows for the years ended December 31, 2025 and 2024:
SERP and DRPPost Retirement
2025202420252024
(In thousands)
Service cost$89 $102 $— $— 
Interest cost164 151 59 48 
Prior Service Cost5 5 — — 
Amortization:
Net loss (gain)39 46 (26)(42)
Net periodic benefit cost$297 $304 $33 $6 
Schedule of expected benefit payments
The benefits expected to be paid in each of the next five years and the aggregate for the five years thereafter are as follows:
SERP and DRPPost- Retirement
(In thousands)
2026$286 $117 
2027264 118 
2028243 118 
2029241 117 
2030213 116 
Years 2031 - 2035963 548