v3.26.3
Benefit Plans
 9 Months Ended
Sep. 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 nine months ended September 30, 2026 and 2025 for its pension and other post-retirement benefit plans:

 
  
Three months ended September 30,
  
 
  
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
  
2026
    
2025
    
2026
    
2025
  
 
                        
Service cost
  
$
-
    
$
-
    
$
5
    
$
4
  
Interest cost
    
289
      
297
      
91
      
87
  
Expected return on plan assets
    
(952
)
    
(862
)
    
(429
)
    
(380
)
Amortization of net actuarial gain
    
(365
)
    
(241
)
    
(353
)
    
(276
)
Amortization of prior service cost
    
-
      
-
      
4
      
2
  
Net periodic benefit
  
$
(1,028
)
  
$
(806
)
  
$
(682
)
  
$
(563
)

 
  
Nine months ended September 30,
  
 
  
Pension Benefits
    
Other Postretirement Benefits
  
(dollars in thousands)
    
2026
      
2025
      
2026
      
2025
  
 
                                
Service cost
  
$
-
    
$
-
    
$
15
    
$
13
  
Interest cost
    
868
      
890
      
271
      
260
  
Expected return on plan assets
    
(2,855
)
    
(2,585
)
    
(1,285
)
    
(1,142
)
Amortization of net actuarial gain
    
(1,095
)
    
(723
)
    
(1,057
)
    
(828
)
Amortization of prior service cost
    
-
      
-
      
10
      
9
  
Net periodic benefit
  
$
(3,082
)
  
$
(2,418
)
  
$
(2,046
)
  
$
(1,688
)

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