v3.26.1
Note 10 - Employee Benefit Plans
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Compensation and Employee Benefit Plans [Text Block]

Note 10. Employee Benefit Plans

 

The Company maintains two nonqualified domestic, noncontributory defined benefit plans (the “Benefit Plans”) for key members of senior management and non-management directors. The Company’s unfunded Benefit Plans include the Supplemental Executive Retention Plan ("SERP") and the Directors’ Supplemental Retirement Plan ("Director Plan"). The SERP was frozen near the end of 2021; the Director Plan was fundamentally frozen at that time as well. The following table presents the components of net periodic pension cost and the effect on the consolidated statements of income for the periods indicated:

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

  
  

2026

  

2025

  

2026

  

2025

 

Income Statement Location

(Amounts in thousands)

                 

Interest cost

 $102  $118  $203  $214 

Salaries and employee benefits/Other Expense

Amortization of prior service cost

  -   -   -   - 

Salaries and employee benefits/Other Expense

Amortization of losses

  269   (16)  537   (11)

Salaries and employee benefits/Other Expense

Net periodic cost

 $371  $102  $740  $203