XML 63 R52.htm IDEA: XBRL DOCUMENT v3.25.4

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2025

Retirement Benefits [Abstract]

Net Periodic Pension Cost

Net consolidated periodic pension cost included the following components:

(Dollars in thousands)		Year Ended December 31,
		2025				2024				2023
Service cost		$	1,293			$	1,387			$	1,440
Interest cost			7,427				6,967				7,134
Expected return on plan assets			(11,046	)			(10,659	)			(11,762	)
Amortization of net actuarial loss			69				2,315				3,347
Net periodic pension cost (income)		$	(2,257	)		$	10			$	159
Weighted-Average Assumptions:
Discount rate			5.76	%			5.07	%			5.26	%
Expected return on assets			6.15	%			6.25	%			7.25	%
Rate of compensation increase (prior to age 40)			6.00	%			5.00	%			5.00	%
Rate if compensation increase (ages 40-49)			5.50	%			n/a				n/a
Rate of compensation increase (ages 40-54)			n/a				4.00	%			4.00	%
Rate if compensation increase (ages 50-54)			5.00	%			n/a				n/a
Rate of compensation increase (ages 55-64)			4.00	%			n/a				n/a
Rate of compensation increase (otherwise)			3.00	%			3.50	%			3.50	%

Schedule of Amounts Related to Plan recognized as Component of Other Comprehensive Income

Amounts related to the Plan recognized as a component of other comprehensive income were as follows:

(In thousands)		Year Ended December 31,
		2025				2024				2023
Net actuarial gain		$	(7,089	)		$	(12,348	)		$	(2,635	)
Amortization of actuarial loss			(69	)			(2,315	)			(3,347	)
Total recognized in other comprehensive income		$	(7,158	)		$	(14,663	)		$	(5,982	)

Reconciliation of the Beginning and Ending Balances of the Projected Benefit Obligation and the Fair Value of Plan Assets and the Accumulated Benefit Obligation

The reconciliation of the beginning and ending balances of the projected benefit obligation and the fair value of plan assets for the years ended December 31, 2025 and 2024 and the accumulated benefit obligation at December 31, 2025 and 2024 are as follows:

(Dollars in thousands)		December 31,
		2025				2024
Change in Projected Benefit Obligation
Projected Benefit Obligation at the Beginning of the Year		$	137,847			$	143,306
Service Cost			1,293				1,387
Interest Cost			7,427				6,967
Actuarial Loss (Gain)			3,088				(7,506	)
Benefits Paid			(6,877	)			(6,307	)
Projected Benefit Obligation at the End of the Year		$	142,778			$	137,847
Accumulated Benefit Obligation at the End of the Year		$	130,900			$	125,429
Change in Plan Assets
Fair Value of Plan Assets at the Beginning of the Year		$	183,035			$	173,840
Actual Return on Plan Assets			21,223				15,502
Benefits Paid			(6,877	)			(6,307	)
Fair Value of Plan Assets at End of Year		$	197,381			$	183,035

(Dollars in thousands)		December 31,
		2025				2024
Net Amount Recognized
Funded Status		$	54,603			$	45,187
Unrecognized Actuarial Net Loss			10,725				17,884
Net Amount Recognized		$	65,328			$	63,071
Weighted-Average Assumptions at the End of the Year
Discount Rate			5.66	%			5.76	%
Rate of compensation Increase (prior to age 40)			6.00	%			6.00	%
Rate of compensation Increase (ages 40-49)			5.50	%			5.50	%
Rate of compensation Increase (ages 50-54)			5.00	%			5.00	%
Rate of compensation Increase (ages 55-64)			4.00	%			4.00	%
Rate of compensation Increase (otherwise)			3.00	%			3.00	%

Asset Allocation for the Defined Benefit Pension Plan as of the Measurement Date, by Asset Category

Asset allocation for the defined benefit pension plan as of the measurement date, by asset category, is as follows:

Plan Assets		Target Allocation 2026				Allowable Allocation Range				Percentage of Plan Assets at
										December 31, 2025				December 31, 2024
Equity Securities			47	%			20-70	%			54%				56%
Fixed Income Securities			43	%			20-50	%			42%				41%
Other			10	%			0-25	%			4%				3%
Total											100%				100%

Expected Benefit Payments

At December 31, 2025, the benefits expected to be paid in each of the next five fiscal years, and in the aggregate for the five years thereafter are as follows:

Year		Amount
(Dollars in thousands)
2026		$	7,433
2027			7,786
2028			8,265
2029			8,648
2030			9,000
2031 through 2035			48,551

Balances of the Plan Assets, by Fair Value Hierarchy Level

The following tables present the balances of the plan assets, by fair value hierarchy level, as of December 31, 2025 and 2024:

						Fair Value Measurements at December 31, 2025 Using
(In thousands) Description		Balance as of December 31, 2025				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash and Cash equivalents		$	6,505			$	0			$	6,505			$	0
Fixed Income Debt Securities:
U.S. Government and agencies			29,982				0				29,982				0
Mortgage backed & other asset-backed securities			7,705				0				7,705				0
Municipal obligations			631				0				631				0
Corporate bonds			9,300				0				9,300				0
Fixed Income Mutual Funds & Exchange-Traded Funds:
General			36,667				36,667				0				0
Equity Securities:
Common stock			20,187				20,187				0				0
Equity Mutual Funds:
Domestic equity large cap			38,185				38,185				0				0
Domestic equity small cap			13,273				13,273				0				0
Alternative equity			17,500				17,500
International emerging equity			4,304				4,304				0				0
International equity developed			13,142				13,142				0				0
Total		$	197,381			$	143,258			$	54,123			$	0

						Fair Value Measurements at December 31, 2024 Using
(In thousands) Description		Balance as of December 31, 2024				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Cash and Cash equivalents		$	5,829			$	5,829			$	0			$	0
Fixed Income Debt Securities:
U.S. Government and agencies			24,874				24,874				0				0
Mortgage backed securities			6,588				6,588				0				0
Collateralized mortgage obligations			623				623				0				0

						Fair Value Measurements at December 31, 2024 Using
(In thousands) Description		Balance as of December 31, 2024				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Municipal obligations			707				707				0				0
Corporate bonds			8,394				8,394				0				0
Fixed Income Mutual Funds:
General			33,537				33,537				0				0
Equity Securities:
Common stock			19,539				19,539				0				0
Equity Mutual Funds:
Domestic equity large cap			37,990				37,990				0				0
Domestic equity small cap			13,332				13,332				0				0
Alternative equity			16,145				16,145
International emerging equity			3,993				3,993				0				0
International equity developed			11,484				11,484				0				0
Total		$	183,035			$	183,035			$	0			$	0

X

- References

No definition available.

+ Details

Name:	us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (d)(5)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefit obligation and plan assets for defined benefit pension plan with projected benefit obligation in excess of plan assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-3

+ Details

Name:	us-gaap_ScheduleOfBenefitObligationsInExcessOfFairValueOfPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfEffectOfSignificantUnobservableInputsChangesInPlanAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (f)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Subparagraph (q)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 715
-SubTopic 20
-Subparagraph (h)
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

Name:	us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration