v3.26.1
Benefit Plans
 3 Months Ended
Mar. 31, 2026
Benefit Plans [Abstract]  
Benefit Plans
(3) Benefit Plans
 
The table below outlines the components of the Company’s net periodic benefit recognized during the three months ended March 31, 2026 and 2025 for its pension and other post-retirement benefit plans:

 
  
Three months ended March 31,
  
 
  
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2026
    
2025
    
2026
    
2025
  
 
                        
Service cost
  
$
-
    
$
-
    
$
5
    
$
5
  
Interest cost
    
286
      
289
      
90
      
86
  
Expected return on plan assets
    
(952
)
    
(763
)
    
(428
)
    
(381
)
Amortization of net gain
    
(349
)
    
(21
)
    
(352
)
    
(276
)
Amortization of prior service cost
    
-
      
-
      
3
      
3
  
Net periodic benefit
  
$
(1,015
)
  
$
(495
)
  
$
(682
)
  
$
(563
)

The Company does not expect to contribute to its pension and post-retirement benefit plans in 2026.  As of March 31, 2026, no contributions have been made; however, this decision is reviewed each quarter and is subject to change based upon market conditions.
Since 2003, the Company has not subsidized retiree medical insurance premiums.  However, it continues to provide medical benefits and post-retirement medical benefits to a limited number of current and retired executives in accordance with the terms of their employment contracts.