Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2025

Employee Benefits

Summary of comparison of the actuarial estimates of the benefit obligations to the recorded obligations

A comparison of the actuarial estimates of the benefit obligations to the recorded obligations are as follows as of the measurement date, December 31:

	2025		2024
	(in thousands)
Projected benefit obligations	$	(6,847)	$	(5,725)
Plan assets at fair value		-		-
Funded status	$	(6,847)	$	(5,725)

Summary of amounts recognized on the consolidated balance sheet for pension plan

Amounts recognized on the consolidated balance sheet as of December 31 are as follows:

	2025		2024
	(in thousands)
Accrued retirement liabilities	$	(4,816)	$	(4,642)
Accumulated other comprehensive loss included in sahreholders' equity, pre-tax		(2,031)		(1,083)
Net amount recognized	$	(6,847)	$	(5,725)

Summary of amounts included in "Accumulated Other Comprehensive Income (pre-tax)" that have not yet been recognized as components of net periodic pension cost

Amounts included in AOCI (pre-tax) that have not yet been recognized as components of net periodic pension cost as of December 31 are as follows:

	2025		2024
	(in thousands)
Unrecognized net actuarial losses	$	(1,054)	$	(883)
Unrecognized prior service costs		(977)		(200)
Unrecognized losses included in AOCI	$	(2,031)	$	(1,083)

Summary of weighted average actuarial assumptions used to determine the director pension plan projected benefit obligations and net periodic pension cost

The weighted average actuarial assumptions used to determine the director pension plan projected benefit obligations and net periodic pension cost are as follows as of December 31:

	2025	2024
Pre-retirement discount rate for net periodic pension cost	5.31%	4.81%
Pre-retirement discount rate for projected benefit obligation	4.70%	5.31%
Post-retirement discount rate for projected benefit obligation	4.70%	5.31%
Rate of compensation increase	0.00%	0.00%

Summary of components of projected net periodic pension cost

The following schedule reflects the net periodic pension cost, contributions received, and benefits paid for the years ended December 31:

	2025		2024		2023
	(in thousands)
Benefit obligation at beginning of the year	$	5,725	$	5,744	$	4,998
Service cost		-		316		260
Interest cost		344		264		261
Plan amendments		1,025		-		430
Actuarial (gain) loss		233		(119)		244
Benefits paid		(480)		(480)		(449)
Benefit obligation at end of the year	$	6,847	$	5,725	$	5,744

Schedule of net periodic pension cost, contributions received, and benefits paid

The components of projected net periodic pension cost for the years ended December 31 are as follows (amortization amounts will be recorded via charges or credits to OCI):

	2025		2024		2023
	(in thousands)
Service cost	$	-	$	316	$	260
Interest cost		344		264		261
Amortization of prior service costs		62		86		81
Amortization of net actuarial losses		248		57		487
Net periodic pension cost	$	654	$	723	$	1,089
Employer contribution	$	480	$	480	$	449
Benefits paid	$	480	$	480	$	449

Summary of estimated pension benefit payments, which reflect expected future service as appropriate, expected to be paid over the next ten years

The following estimated pension benefit payments, which reflect expected future service as appropriate, are expected to be paid over the next ten years (in thousands):

Estimated benefit payments
2026	$	540
2027		528
2028		564
2029		758
2030		854
2031 and thereafter		3,390
	$	6,634

Schedule of share information held by the ESOP

	As of December 31,
	2025		2024
	(Dollars in thousands)
Allocated shares		170,823		—
Shares committed to be released		170,823		170,823
Unallocated shares		3,074,812		3,245,635
Total shares		3,416,458		3,416,458
Fair value of unallocated shares	$	60,943	$	58,616

Schedule of restricted tock award activities

	For the Year Ended December 31, 2025			For the Year Ended December 31, 2024			For the Year Ended December 31, 2023
	Number of Shares		Weighted-Average Grant Date Fair Value Per Share	Number of Shares		Weighted-Average Grant Date Fair Value Per Share	Number of Shares		Weighted-Average Grant Date Fair Value Per Share
Non-vested balance at beginning of period	—	$	—	—	$	—	—	$	—
Granted	1,284,525		16.41	—		—	—		—
Vested	—		—	—		—	—		—
Forfeited	—		—	—		—	—		—
Non-vested balance at end of period	1,284,525	$	16.41	—	$	—	—	$	—

Schedule of compensation expense and income tax benefits recognized for restricted stock awards

The following table presents stock-based compensation expense for the periods indicated:

	For the Year Ended December 31, 2025		For the Year Ended December 31, 2024		For the Year Ended December 31, 2023
	(in thousands)
Stock-based compensation expense:
Restricted stock awards	$	2,910	$	—	$	—
Total stock-based compensation expense	$	2,910	$	—	$	—
Related tax benefits recognized in earnings	$	—	$	—	$	—