v3.26.1
Benefit Plans (Tables)
6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Components of Company Plan Benefit Expense

The following tables summarize key information related to the Company’s pension plans and retirement agreements (in thousands):

 

 

 

Six Months Ended
June 30,
2026

 

 

Year Ended
December 31,
2025

 

Change in Projected Benefit Obligation

 

 

 

 

 

 

Projected benefit obligation, beginning of period

 

$

29,041

 

 

$

27,027

 

Service cost

 

 

264

 

 

 

532

 

Interest cost

 

 

785

 

 

 

1,504

 

Actuarial loss

 

 

 

 

 

1,360

 

Benefits paid

 

 

(522

)

 

 

(1,382

)

Projected benefit obligation, end of period

 

$

29,568

 

 

$

29,041

 

Change in Plan Assets

 

 

 

 

 

 

Plan assets at fair value, beginning of period

 

$

 

 

$

 

Company contributions

 

 

522

 

 

 

1,382

 

Benefits paid

 

 

(522

)

 

 

(1,382

)

Plan assets at fair value, end of period

 

$

 

 

$

 

Unfunded Status of the Plan

 

$

29,568

 

 

$

29,041

 

Components of Net Periodic Benefit Cost

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2026

 

 

June 30, 2025

 

 

June 30, 2026

 

 

June 30, 2025

 

Components of Net Periodic Benefit Cost

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

132

 

 

$

133

 

 

$

264

 

 

$

266

 

Interest cost

 

 

392

 

 

 

376

 

 

 

785

 

 

 

752

 

Net (gain) loss

 

 

8

 

 

 

(62

)

 

 

16

 

 

 

(125

)

Net periodic benefit cost

 

$

532

 

 

$

447

 

 

$

1,065

 

 

$

893