Income Tax Status |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| EBP 001 [Member] | |
| EBP, Tax Status [Line Items] | |
| Income Tax Status | NOTE 6 — INCOME TAX STATUS On July 22, 2025, the IRS issued its most recent favorable determination letter with respect to the qualified status of the Plan. The favorable determination letter indicates that the terms of the Plan conform to the requirements of sections 401(a) and 401(k) of the IRC and, therefore, the related trust is exempt from taxation. BFC, therefore, also has a basis for deducting contributions to the Plan. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualified status. The Administration Committee believes the Plan is operated in compliance with the applicable requirements of the IRC and, therefore, believes the Plan is qualified and the related trust is tax-exempt. U.S. GAAP requires the Plan’s management to evaluate uncertain tax positions taken by the Plan. The financial statement effects of a tax position are recognized when the position is
more-likely-than-not, |