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Pension and Other Postretirement Benefit Plans
 9 Months Ended
Sep. 30, 2025
Pension and Other Postretirement Benefit Plans  
Pension and Other Postretirement Benefit Plans

9.     Pension and Other Postretirement Benefit Plans

The following table sets forth information regarding the components of net expense for the pension and other postretirement benefit plans.

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Three months ended

 

Nine months ended

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September 30, 

 

September 30, 

(In thousands)

    

2025

    

2024

    

2025

    

2024

Employee Pension Plan:

 

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Interest cost

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$

203

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$

193

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$

610

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$

581

Expected return on plan assets

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(277)

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(284)

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(831)

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(852)

Net employee pension benefit (1)

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$

(74)

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$

(91)

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$

(221)

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$

(271)

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Outside Director Pension Plan:

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Service cost

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$

2

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$

2

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$

6

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$

6

Interest cost

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12

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11

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36

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33

Amortization of unrecognized gain

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(25)

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(38)

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(75)

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(114)

Net outside director pension (benefit) expense (2)

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$

(11)

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$

(25)

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$

(33)

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$

(75)

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Other Postretirement Benefit Plans:

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Service cost

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$

38

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$

41

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$

114

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$

125

Interest cost

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115

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96

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345

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288

Amortization of unrecognized gain

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(48)

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(54)

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(144)

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(162)

Net other postretirement expense (1)

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$

105

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$

83

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$

315

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$

251

(1) Reported in the Consolidated Statements of Operations as part of salaries and employee benefits.

(2) Reported in the Consolidated Statements of Operations as part of other operating expenses.

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The Company previously disclosed in its Consolidated Financial Statements for the year ended December 31, 2024 that it expects to contribute $0.1 million to the outside director pension plan (the “Outside Director Pension Plan”) and $0.3 million to the other postretirement benefit plans (the “Other Postretirement Benefit Plans”), during the year ending December 31, 2025. The Company does not expect to contribute to the employee pension plan during the year ending December 31, 2025. As of September 30, 2025, the Company had contributed $0.1 million to the Other Postretirement Benefit Plans. As of September 30, 2025, the Company has not revised its expected contributions for the year ending December 31, 2025.

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