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Employee Benefit Plans | 9 Months Ended
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Sep. 30, 2025
Retirement Benefits [Abstract] |
Employee Benefit Plans | Employee Benefit Plans The Corporation's 401(k) Retirement Plan is a defined contribution plan under which eligible employees may defer a portion of their pre-tax covered compensation on an annual basis, with employer matches of up to 5% of employee compensation. 401(k) Retirement Plan expense for the three months ended September 30, 2025 and 2024 was $3.5 million and $3.7 million, respectively. For the nine months ended September 30, 2025 and 2024, 401(k) Retirement Plan expense was $10.5 million and $10.3 million, respectively. The net periodic pension cost for the Pension Plan consisted of the following components:
| Three months ended September 30 |  | Nine months ended September 30
| 2025 |  | 2024 |  | 2025 |  | 2024
| (dollars in thousands)
Interest cost | $ | 768 |  |  | $ | 790 |  |  | $ | 2,303 |  |  | $ | 2,369 |
Expected return on plan assets | (978) |  |  | (976) |  |  | (2,934) |  |  | (2,927) |
Net periodic pension cost | $ | (210) |  |  | $ | (186) |  |  | $ | (631) |  |  | $ | (558) |
The components of the net benefit for the Postretirement Plan consisted of the following components:
| Three months ended September 30 |  | Nine months ended September 30
| 2025 |  | 2024 |  | 2025 |  | 2024
| (dollars in thousands)
Interest cost | $ | 9 |  |  | $ | 10 |  |  | $ | 26 |  |  | $ | 29 |
Net accretion and deferral | (136) |  |  | (135) |  |  | (407) |  |  | (406) |
Net periodic postretirement benefit | $ | (127) |  |  | $ | (125) |  |  | $ | (381) |  |  | $ | (377) |
In connection with the Merger, the Corporation assumed the obligations of Prudential Bancorp under a multiemployer defined benefit pension plan that had previously been closed to new Prudential Bancorp participants.

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