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EMPLOYEE BENEFIT PLANS (Tables)
12 Months Ended
Dec. 31, 2025
EMPLOYEE BENEFIT PLANS  
Schedule of net funded status of pension plans

​

​

​

​

​

​

​

​

​

​

At December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

Change in benefit obligation:

​

​

​

​

​

​

Benefit obligation at beginning of year

​

$

8,641

​

$

8,815

Service cost

​

 

231

​

 

215

Interest cost

​

 

514

​

 

501

Actuarial loss (gain)

​

 

145

​

 

(89)

Benefits paid

​

 

(1,276)

​

 

(801)

Benefit obligation at end of year

​

 

8,255

​

 

8,641

​

​

​

​

​

​

​

Change in plan assets:

​

 

  ​

​

 

  ​

Fair value of plan assets at beginning of year

​

$

15,886

​

$

15,155

Actual return on plan assets

​

 

1,650

​

 

1,532

Benefits paid

​

 

(1,276)

​

 

(801)

Fair value of plan assets at end of year

​

 

16,260

​

 

15,886

​

​

​

​

​

​

​

Net amount recognized, funded status

​

$

8,005

​

$

7,245

Schedule of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan

​

​

​

​

​

​

​

​

​

At December 31, 

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Discount rate

 

6.14

%  

6.17

%

Rate of increase in compensation levels

 

3.00

%  

3.00

%

​

​

​

​

​

​

​

​

​

At December 31, 

 

​

​

2025

  ​ ​ ​

2024

 

​

​

​

​

​

 

Discount rate

​

6.17

%  

5.84

%

Expected long-term rate of return on plan assets

​

7.00

%  

7.00

%

Rate of increase in compensation levels

​

3.00

%  

3.00

%

Schedule of amounts recognized in other comprehensive income (loss)

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Year Ended December 31, 

(In thousands)

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

​

​

​

Net periodic expenses recognized in income:

​

​

​

​

​

​

Service cost

​

$

231

​

$

215

Interest cost

​

 

514

​

 

501

Expected return on assets

​

 

(1,119)

​

 

(1,118)

Net periodic pension benefit

​

 

(374)

​

 

(402)

​

​

​

​

​

​

​

Total recognized in other comprehensive income

​

 

(386)

​

 

(503)

Total recognized in net periodic pension cost and other comprehensive income

​

$

(760)

​

$

(905)

Schedule of allocation of plan assets

The fair values of the Company’s Pension Plan assets by asset category are as follows (dollars in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

  ​ ​ ​

At December 31, 2025

​

​

Asset Category

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

​

​

Equities & Commodities:

​

​

​

​

​

​

​

​

​

(1)

 

Equity Income Separate Account-Z

​

$

834

​

$

—

​

$

834

(2)

 

LargeCap S&P 500 Index Separate Account-Z

​

 

3,245

​

 

—

​

 

3,245

(3)

 

Blue Chip Separate Account-Z

​

 

782

​

 

—

​

 

782

(4)

 

MidCap S&P 400 Index Separate Account-Z

​

 

1,961

​

 

—

​

 

1,961

(5)

 

SmallCap S&P 600 Index Separate Account-Z

​

 

1,643

​

 

—

​

 

1,643

(6)

 

Global Emerging Markets Separate Account-Z

​

 

814

​

 

—

​

 

814

(7)

 

Real Estate Securities Sep Acct-Z

​

 

478

​

 

—

​

 

478

​

 

Fixed Income:

​

​

​

​

​

​

​

​

​

(8)

 

LDI Short Duration Separate Account-Z

​

 

1,605

​

 

—

​

 

1,605

(9)

 

Core Fixed Income Separate Account-Z

​

 

1,602

​

 

—

​

 

1,602

(10)

 

Core Plus Bond Separate Account-Z

​

 

1,612

​

 

—

​

 

1,612

(11)

 

Inflation Protection Separate Account-Z 3-BlackRock

​

 

797

​

 

—

​

 

797

(12)

 

High Yield Separate Account-Z

​

 

810

​

 

—

​

 

810

(13)

 

Liquid Asset Separate Account-Z

​

 

77

​

 

—

​

 

77

​

 

Total Market Value

​

$

16,260

​

$

—

​

$

16,260

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

At December 31, 2024

​

  ​ ​ ​

Asset Category

  ​ ​ ​

Total

  ​ ​ ​

Level 1

  ​ ​ ​

Level 2

​

 

Equities & Commodities:

​

​

​

​

​

​

​

​

​

(1)

 

Equity Income Separate Account-Z

​

$

775

​

$

—

​

$

775

(2)

 

LargeCap S&P 500 Index Separate Account-Z

​

 

3,229

​

 

—

​

 

3,229

(3)

 

Blue Chip Separate Account-Z

​

 

816

​

 

—

​

 

816

(4)

 

MidCap S&P 400 Index Separate Account-Z

​

 

1,907

​

 

—

​

 

1,907

(5)

 

SmallCap S&P 600 Index Separate Account-Z

​

 

1,602

​

 

—

​

 

1,602

(6)

 

Global Emerging Markets Separate Account-Z

​

 

734

​

 

—

​

 

734

(7)

 

Real Estate Securities Sep Acct-Z

​

 

456

​

 

—

​

 

456

​

 

Fixed Income:

​

​

​

​

​

​

​

​

​

(8)

 

LDI Short Duration Separate Account-Z

​

 

1,603

​

 

—

​

 

1,603

(9)

 

Core Fixed Income Separate Account-Z

​

 

1,564

​

 

—

​

 

1,564

(10)

 

Core Plus Bond Separate Account-Z

​

 

1,571

​

 

—

​

 

1,571

(11)

 

Inflation Protection Separate Account-Z 3-BlackRock

​

 

777

​

 

—

​

 

777

(12)

 

High Yield Separate Account-Z

​

 

798

​

 

—

​

 

798

(13)

 

Liquid Asset Separate Account-Z

​

 

54

​

 

​

​

 

54

​

 

Total Market Value

​

$

15,886

​

$

—

​

$

15,886

​

Schedule of estimated future benefit payments

Estimated future benefit payments, which reflect expected future service, as appropriate, are as follows (dollars in thousands):

​

​

​

​

Estimated pension payments:

  ​ ​ ​

​

  ​

2026

​

$

574

2027

​

$

577

2028

​

$

563

2029

​

$

555

2030

​

$

687

2031-2035

​

$

3,338

Schedule of stock option activity

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Year Ended December 31, 

​

​

2025

​

2024

​

  ​ ​ ​

​

  ​ ​ ​

Weighted

  ​ ​ ​

​

  ​ ​ ​

Weighted

​

​

​

​

Average

​

  ​

​

Average

​

​

​

​

Exercise

​

​

​

Exercise

​

​

​

​

Price Per

​

​

​

Price Per

​

​

Options

​

Share

​

Options

​

Share

Outstanding at the beginning of the period

 

59,034

​

$

9.27

 

60,990

​

$

9.27

​

​

​

​

​

​

​

​

​

​

​

Grants

 

5,600

​

 

9.78

 

—

​

 

—

Exercised

 

—

​

 

—

 

—

​

 

—

Forfeitures

 

(3,448)

​

$

(9.21)

 

(1,956)

​

 

(9.20)

Outstanding at period end

 

61,186

​

$

9.32

 

59,034

​

$

9.27

Vested at end of year

 

50,415

​

$

9.18

 

49,040

​

$

9.17

Exercisable

 

50,415

​

$

9.18

 

49,040

​

$

9.17