EMPLOYEE AND DIRECTOR BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2024

EMPLOYEE AND DIRECTOR BENEFIT PLANS

Schedule of net postretirement benefit cost

The net postretirement benefit cost was as follows (in thousands):

For the Year Ended December 31,	2024		2023
Net Postretirement Benefit Cost	$	(159)	$	(191)

Schedule of accumulated postretirement benefit obligation and the balance in accumulated other comprehensive income

The accumulated postretirement benefit obligation and the balance in accumulated other comprehensive income was as follows (in thousands):

December 31,	2024		2023
Accumulated Postretirement Benefit Obligation	$	3,054	$	3,231
Fair Value of Plan Assets		—		—
Unfunded Status	$	3,054	$	3,231
Balance in Accumulated Other Comprehensive Income	$	1,843	$	1,881

Schedule of amounts recognized in accumulated other comprehensive income

Amounts recognized in Accumulated Other Comprehensive Income were as follows (in thousands):

For the Year Ended December 31,	2024		2023
Net Gain	$	1,684	$	1,518
Prior Service Credit		159		363
Total	$	1,843	$	1,881

Schedule of actuarial assumptions

December 31,	2024		2023
Equivalent APBO Single Discount Rate	5.60	%	5.00	%
Rate of Increase in Future Compensation Levels	N/A		N/A
Current Pre 65 Health Care Trend Rate	8.65	%	8.35	%
Current Post 64 Health Care Trend Rate-Non Grandfathered	5.68	%	5.38	%
Current Post 64 Health Care Trend Rate-Granfathered	7.98	%	7.23	%
Ultimate Health Care Trend Rate	4.59	%	4.59	%
Year Ultimate Trend Rate Reached	2042		2042

January 1,	2024		2023
Equivalent APBO Single Discount Rate	5.00	%	5.20	%
Rate of Increase in Future Compensation Levels	N/A		N/A
Current Pre 65 Health Care Trend Rate	8.35	%	8.64	%
Current Post 64 Health Care Trend Rate-Non Grandfathered	5.38	%	5.32	%
Current Post 64 Health Care Trend Rate-Grandfathered	7.23	%	7.35	%
Ultimate Health Care Trend Rate	4.59	%	4.59	%
Year Ultimate Trend Rate Reached	2042		2042

Schedule of reconciliation of the accumulated postretirement benefit obligation

The following is a reconciliation of the accumulated postretirement benefit obligation, which is included in employee and director benefit plans liabilities (in thousands):

	Accumulated
	Postretirement
	Benefit		Fair Value of		Funded
Reconciliation of Funded Status	Obligation		Plan Assets		Status
December 31, 2023:	$	(3,231)	$	—	$	(3,231)
Service cost		(72)		—		(72)
Interest cost		(157)		—		(157)
Gains/(Losses)		348		—		348
Benefits paid		136		(136)		—
Participant contributions		(78)		78		—
Employer Contributions		—		58		58
December 31, 2024	$	(3,054)	$	—	$	(3,054)

Schedule of reconciliation of the accumulated other comprehensive income

The following is a reconciliation of the accumulated other comprehensive income (in thousands):

					Accumulated Other
	Net		Prior Service		Comprehensive
	Gain/Loss		Cost/(Credit)		Income
December 31, 2023:	$	(1,518)	$	(363)	$	(1,881)
Amortization payment		182		204		386
Liability (Gain)/Loss		(348)		—		(348)
December 31, 2024	$	(1,684)	$	(159)	$	(1,843)

Schedule of benefits expected to be paid from the plan

The following table displays the benefits expected to be paid from the plan during each of the next five fiscal years, and in aggregate for the five fiscal years thereafter (in thousands):

Fiscal 2025	$	223
Fiscal 2026		220
Fiscal 2027		260
Fiscal 2028		254
Fiscal 2029		263
Fiscal 2030-2034	$	1,126