Note 9 - Employee Benefit Plans

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Compensation and Employee Benefit Plans [Text Block]

Note 9. Employee Benefit Plans

The Company maintains two nonqualified domestic, noncontributory defined benefit plans (the “Benefit Plans”) for key members of senior management and non-management directors. The Company’s unfunded Benefit Plans include the Supplemental Executive Retention Plan ("SERP") and the Directors’ Supplemental Retirement Plan ("Director Plan"). The SERP was frozen near the end of 2021; the Director Plan was fundamentally frozen at that time as well. The following table presents the components of net periodic pension cost and the effect on the consolidated statements of income for the periods indicated:

	Three Months Ended March 31,
	2025		2024		Income Statement Location
(Amounts in thousands)
Interest cost	$	95	$	104	Other expense
Amortization of prior service cost		-		-	Other expense
Amortization of losses		5		9	Other expense
Net periodic cost	$	100	$	113