v3.26.3
Retirement Plans
 9 Months Ended
Sep. 30, 2026
Retirement Benefits [Abstract]  
Retirement Plans Retirement Plans
The Corporation has a noncontributory defined benefit RAP, covering employees who meet participation requirements. The benefit allocations are based primarily on years of service and the employee’s compensation paid. Employees of acquired entities generally participate in the RAP after consummation of the business combinations. As part of acquisition-related integration activities, employees who become eligible for participation in the RAP are generally provided service credit for their employment with the acquired institution for eligibility and vesting purposes.

The Corporation also provides legacy healthcare access to a limited group of retired employees from a previous acquisition in the Postretirement Plan. There are no other active retiree healthcare plans.
The components of net periodic pension benefit and net periodic cost for the RAP and Postretirement Plan were as follows:
Three Months Ended Sep 30,Nine Months Ended Sep 30,
(in thousands)2026202520262025
RAP
Service cost$869 $636 $2,606 $2,255 
Interest cost2,749 3,027 8,248 8,655 
Expected return on plan assets(9,772)(9,832)(29,316)(29,450)
Amortization of prior service credit(44)(44)(133)(133)
Total net periodic pension benefit$(6,198)$(6,213)$(18,595)$(18,673)
Postretirement Plan
Interest cost$22 $26 $65 $78 
Amortization of prior service credit(19)(19)(56)(56)
Amortization of actuarial loss— 4 — 12 
Total net periodic cost$3 $11 $9 $34 
The components of net periodic pension benefit and net periodic cost, other than the service cost component, are included in the other noninterest expense caption of the consolidated statements of income. The service cost component is included in the personnel noninterest expense caption of the consolidated statements of income.
The Corporation’s funding policy is to pay at least the minimum amount required by federal law and regulations, with consideration given to the maximum funding amounts allowed. The Corporation regularly reviews the funding of its RAP. There were no contributions during 2025 or the nine months ended September 30, 2026