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RETIREMENT PLANS (Tables)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Schedule of Changes in Benefit Obligations and Plan Assets
The following table sets forth changes in the plan's net benefit obligation and accumulated benefit information as of December 31:
($ in thousands)20252024
Change in benefit obligation - Pension
Benefit obligation at beginning of year$8,181 $8,768 
Interest cost445 416 
Actuarial (gain)/loss assumption changes298 (669)
Benefits paid(393)(334)
Benefit obligation and accumulated benefit obligation at end of year$8,531 $8,181 
Change in Plan Assets
Fair value of plan assets at beginning of year$8,551 $9,063 
Actual return (loss) on plan assets505 (178)
Employer contribution— — 
Benefits/expenses paid(393)(334)
Fair value of plan assets at end of year$8,663 $8,551 
Funded status - asset $132 $370 
 
Amounts recorded in equity
Net actuarial loss$2,411 $2,255 
Total amount recorded$2,411 $2,255 
Amount recorded, net of taxes$1,736 $1,624 
The following SERP benefit information is as of December 31:
($ in thousands)20252024
Change in benefit obligation - SERP
Benefit obligation at beginning of year$5,720 $6,124 
Interest cost291 277 
Actuarial gain/assumption changes263 (180)
Benefits paid(531)(501)
Benefit obligation and accumulated benefit obligation at end of year5,743 5,720 
Funded status - liability$(5,743)$(5,720)
($ in thousands)20252024
Amounts recorded in stockholders’ equity
Net actuarial loss$1,378 $1,157 
Total amount recorded$1,378 $1,157 
Amount recorded, net of taxes$992 $833 
Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income
Other changes in plan assets and benefit obligations recognized in other comprehensive income include the following as of December 31:
($ in thousands)20252024
Net loss (gain)$213 $(43)
Recognition of net actuarial loss(57)(57)
Total changes156 (100)
Changes, net of taxes$112 $(72)
The Company expects to recognize the following amounts as a component of net periodic pension costs during the next fiscal year: 
Expected return on plan assets$421 
Interest cost(443)
Amortization of net gain/(loss)(65)
Net periodic pension benefit/(cost)$(87)
Other changes in benefit obligations recognized in other comprehensive income for 2025 and 2024 included the following components: 
($ in thousands)20252024
Net (gain) loss $263 $(179)
Recognition of net actuarial loss(42)(54)
Total changes$221 $(233)
Changes, net of taxes$159 $(168)
The Company expects to recognize the following amounts as a component of net periodic pension costs during the next fiscal year ($ in thousands):
Interest cost$(268)
Amortization of net gain(62)
Net periodic pension (costs)/earnings$(330)
Schedule of Expected Annual Benefit Payments
Based on actuarial estimates, it is expected that annual benefit payments from the pension trust will be as follows:
($ in thousands)
20262027202820292030Thereafter
$511 $506 $501 $510 $579 $3,148 
Based on actuarial estimates, it is expected that annual SERP benefit payments will be as follows ($ in thousands):
20262027202820292030Thereafter
$575 $566 $557 $545 $531 $2,379 
Schedule of Fair Value of Plan Assets by Investment Type See the following table for fair value hierarchy by investment type at December 31:
($ in thousands)Fair Value Hierarchy20252024
Pension Plan Assets:
Cash and Cash EquivalentsLevel 1$87 $87 
Collective FundsLevel 28,576 8,464 
Fair value of plan assets$8,663 $8,551 
Schedule of Components of Net Periodic Pension Cost
Total pension and retirement expense was as follows for each of the years ended December 31:
($ in thousands)202520242023
Cost components:
Interest cost$(445)$(416)$(416)
Expected return on plan assets420 448 418 
Net amortization and deferral(57)(58)(67)
Total net periodic pension (costs)/earnings$(82)$(26)$(65)
Total pension and retirement expense was as follows for each of the years ended December 31:
($ in thousands)202520242023
Cost components:
Interest cost$(291)$(277)$(291)
Net amortization and other(42)(54)(40)
Total net periodic pension cost$(333)$(331)$(331)