EMPLOYEE BENEFIT PLANS |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Employee Benefit Plans [Abstract] | |
| Employee Benefit Plans | NOTE 7 - EMPLOYEE BENEFIT PLANS The Company has a defined benefit pension plan covering substantially all full-time Supplemental Executive Retirement Plan (“SERP”) and a Supplemental executive officers. December 31, 2019. were not covered by the SERP. The components of the net periodic benefit cost for the Company’s Three Months Ended June 30, Six Months Ended June 30, (Dollars in Thousands) 2026 2025 2026 2025 Service Cost $ 832 $ 860 $ 1,665 $ 1,720 Interest Cost 1,532 1,676 3,063 3,353 Expected Return on Plan Assets (2,218) (2,264) (4,435) (4,529) Net Loss Amortization (473) (414) (947) (827) Net Periodic Benefit Cost $ (327) $ (142) $ (654) $ (283) Discount Rate 5.67% 5.82% 5.67% 5.82% Long-term Rate of Return on Assets 6.50% 6.75% 6.50% 6.75% The components of the net periodic benefit cost for the Company’s Three Months Ended June 30, Six Months Ended June 30, (Dollars in Thousands) 2026 2025 2026 2025 Service Cost $ 19 $ 12 $ 38 $ 23 Interest Cost 150 131 300 264 Prior Service Cost Amortization 25 26 51 51 Net Loss Amortization 238 (29) 475 (58) Net Periodic Benefit Cost $ 432 $ 140 $ 864 $ 280 Discount Rate 5.24% 5.57% 5.24% 5.57% The service cost component of net periodic benefit cost is reflected in income. Consolidated Statements of Income. |