v3.26.1
Benefit Plans
 6 Months Ended
Jun. 30, 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 and six months ended June 30, 2026 and 2025 for its pension and other post-retirement benefit plans:

   
Three months ended June 30,
  
   
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2026
    
2025
    
2026
    
2025
  
                         
Service cost
  
$
-
    
$
-
    
$
5
    
$
4
  
Interest cost
    
293
      
304
      
90
      
87
  
Expected return on plan assets
    
(951
)
    
(960
)
    
(428
)
    
(381
)
Amortization of net actuarial gain
    
(381
)
    
(461
)
    
(352
)
    
(276
)
Amortization of prior service cost
    
-
      
-
      
3
      
4
  
Net periodic benefit
  
$
(1,039
)
  
$
(1,117
)
  
$
(682
)
  
$
(562
)

   
Six months ended June 30,
  
   
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2026
    
2025
    
2026
    
2025
  
                         
Service cost
  
$
-
    
$
-
    
$
10
    
$
9
  
Interest cost
    
579
      
593
      
180
      
173
  
Expected return on plan assets
    
(1,903
)
    
(1,723
)
    
(856
)
    
(762
)
Amortization of net actuarial gain
    
(730
)
    
(482
)
    
(704
)
    
(552
)
Amortization of prior service cost
    
-
      
-
      
6
      
7
  
Net periodic benefit
  
$
(2,054
)
  
$
(1,612
)
  
$
(1,364
)
  
$
(1,125
)

The Company does not expect to contribute to its pension and post-retirement benefit plans in 2026.  As of June 30, 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.