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Employee Benefit Plans
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
The Corporation sponsors a contributory defined contribution Section 401(k) plan. The plan permits eligible employees to make pre-tax and Roth contributions up to 70% of salary. Employees 21 years of age or over with a minimum of 90 days of service are eligible for matching contributions by the Corporation at 100% of elective contributions not to exceed 5% of plan salary. The Corporation’s matching contribution and related expenses were $2.9 million, $2.4 million, and $1.8 million for the years ended December 31, 2025, 2024, and 2023, respectively. A profit sharing discretionary non-contributory pension plan component is in place for employees 21 years of age or over with a minimum of one-year with 1,000 hours of service and allows employer contributions in an amount equal to a percentage of eligible compensation plus 5.7% of the compensation in excess of $176 thousand, subject to a $350 thousand salary limit. The Corporation recognized profit sharing expense of $1.9 million, $1.4 million, and $3.6 million for the years ended December 31, 2025, 2024, and 2023 respectively.

The Corporation has adopted a non-qualified supplemental executive retirement plan ("SERP") for certain executives to compensate those executive participants in the Corporation’s retirement plan whose benefits are limited by compensation limitations under current tax law. Additionally, on December 31, 2021, the Corporation adopted a Defined Contribution Plan for several employees (the "DCP"), pursuant to which the Corporation will make certain annual contributions to the DCP on the employee's behalf, which will be paid to the employee following their termination of employment from the Corporation or, if earlier, upon the employee becoming disabled. The DCP became effective as of January 2, 2022. The SERP and DCP are considered an unfunded plan for tax and ERISA purposes and all obligations arising under the SERP and DCP are payable from the general assets of the Corporation.

At December 31, 2025 and 2024, obligations of $11.0 million and $10.5 million, respectively, were included in other liabilities for the SERP and DCP. Expenses related to the SERP and DCP were $747 thousand for the year ended December 31, 2025, $866 thousand for the year ended December 31, 2024, and $565 thousand for the year ended December 31, 2023.
The Corporation has established a Survivor Benefit Plan for the benefit of outside directors. The purpose of the plan is to provide life insurance benefits to beneficiaries of the Corporation’s directors who at the time of their death are participants in the plan. The plan is considered an unfunded plan for tax and ERISA purposes and all obligations arising under the plan are payable from the general assets of the Corporation. At December 31, 2025 and 2024, obligations of $1.2 million and $1.3 million, respectively, were included in other liabilities for this plan. Expenses (benefits) related to this plan were $19 thousand for the year ended December 31, 2025, $(17) thousand for the year ended December 31, 2024, and $(213) thousand for the year ended December 31, 2023.

The Corporation assumed a defined benefit pension plan (the "Pension Plan") as part of the ESSA acquisition in July 2025. The Pension Plan was amended by ESSA in 2017 to provide that no additional participants would enter the plan and no additional benefits would accrue. The Pension Plan was terminated as of December 31, 2025 and the tables below utilize plan-termination assumptions.

The following table set forth the change in plan assets and benefit obligation at December 31, 2025:

December 31, 2025
Change in projected benefit obligation:
Projected benefit obligation at acquisition date$12,526 
Service cost
Interest cost275
Plan participants' contributions
Actuarial (gain)/loss745
Benefits Paid(212)
Projected benefit obligation at end of the year$13,334 
Change in plan assets:
Fair value of plan assets at acquisition date$21,352 
Actual return on plan assets369
Contributions
Benefits paid(212)
Fair value of plan assets at end of the year$21,509 
Funded (unfunded) status at end of year$8,175 

The benefit obligation for the Pension Plan at December 31, 2025 was $13.3 million. The funded status of the Pension Plan was recognized in Accrued interest receivable and other assets.

Amounts not yet recognized as a component of net period pension cost at December 31, 2025:

December 31, 2025
Amounts recognized in accumulated other comprehensive income consist of:
Net (gain) loss$715 

The following table comprises the components of the net periodic benefit cost for the year ended December 31, 2025:

December 31, 2025
Service cost$— 
Interest cost275
Expected return on plan assets(340)
Net periodic benefit cost$(65)

Weighted-average assumptions used to determine benefit obligations for the year ended December 31, 2025:

December 31, 2025
Discount rate5.11 %
Rate of compensation increaseN/A
Weighted-average assumptions used to determine net periodic benefit cost for the year ended December 31, 2025:

December 31, 2025
Discount rate5.47 %
Expected return on plan assets3.90 %
Rate of compensation increaseN/A

The expected return on the Pension Plan assets was estimated using the benchmarks for which current plan assets are held, as the plan was terminated as of December 31, 2025. This includes cash/money market funds and debt securities.

The Corporation's Pension Plan weighted-average asset allocations at December 31, 2025 by asset category, are as follows:

December 31, 2025
Cash/Money Market Fund60.40 %
Debt securities39.60 %
Total100.00 %

The asset mix is driven by the Pension Plan's termination as of December 31, 2025.

The Corporation does not expect to make any additional contributions to the Pension Plan. Estimated future benefit payments, are as follows:

Cash flows
Estimated benefit payments in 2026$— 
Estimated benefit payments in 20276,708
Estimated benefit payments in 20287,485
Estimated benefit payments in 2029
Estimated benefit payments in 2030
Estimated benefit payments in 2031-2035

The following table sets forth by level, within the fair value hierarchy, the Pension Plan's assets at fair value as of December 31, 2025:

  Fair Value Measurements at December 31, 2025 Using
DescriptionTotalQuoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Investment in collective trusts:
Cash/Money Market$12,986 $— $12,986 $— 
Debt Securities8,523 — 8,523 — 
Total Plan Assets$21,509 $— $21,509 $—