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Benefit Plans
 6 Months Ended
Jun. 30, 2025
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, 2025 and 2024 for its pension and other post-retirement benefit plans:

Three months ended June 30,
  
Pension Benefits
  
Other Postretirement Benefits
  
(dollars in thousands)
2025
  
2024
  
2025
  
2024
  

               
Service cost
  
$
-
    
$
-
    
$
4
    
$
4
  
Interest cost
    
304
      
289
      
87
      
72
  
Expected return on plan assets
    
(960
)
    
(762
)
    
(381
)
    
(332
)
Amortization of net gain
    
(461
)
    
(19
)
    
(276
)
    
(183
)
Amortization of prior service cost
    
-
      
-
      
4
      
3
  
Net periodic benefit
  
$
(1,117
)
  
$
(492
)
  
$
(562
)
  
$
(436
)


Six months ended June 30,
  

Pension Benefits
  
Other Postretirement Benefits
  
(dollars in thousands)
2025
  
2024
  
2025
  
2024
  

               
Service cost
  
$
-
    
$
-
    
$
9
    
$
9
  
Interest cost
    
593
      
578
      
173
      
144
  
Expected return on plan assets
    
(1,723
)
    
(1,524
)
    
(762
)
    
(663
)
Amortization of net gain
    
(482
)
    
(38
)
    
(552
)
    
(367
)
Amortization of prior service cost
    
-
      
-
      
7
      
6
  
Net periodic benefit
  
$
(1,612
)
  
$
(984
)
  
$
(1,125
)
  
$
(871
)

The Company does not expect to contribute to its pension and post-retirement benefit plans in 2025. As of June 30, 2025, 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.