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Benefit Plans (Tables)
9 Months Ended
Sep. 30, 2025
Retirement Benefits [Abstract]  
Components of Company Plan Benefit Expense

The following tables summarize key information related to the Company’s pension plans and retirement agreements (in thousands):

 

 

 

Nine Months Ended
September 30,
2025

 

 

Year Ended
December 31,
2024

 

Change in Projected Benefit Obligation

 

 

 

 

 

 

Projected benefit obligation, beginning of period

 

$

27,027

 

 

$

27,790

 

Service cost

 

 

366

 

 

 

653

 

Interest cost

 

 

1,128

 

 

 

1,365

 

Actuarial gain

 

 

 

 

 

(1,772

)

Benefits paid

 

 

(690

)

 

 

(1,009

)

Projected benefit obligation, end of period

 

$

27,831

 

 

$

27,027

 

Change in Plan Assets

 

 

 

 

 

 

Plan assets at fair value, beginning of period

 

$

 

 

$

 

Company contributions

 

 

690

 

 

 

1,009

 

Benefits paid

 

 

(690

)

 

 

(1,009

)

Plan assets at fair value, end of period

 

$

 

 

$

 

Unfunded Status of the Plan

 

$

27,831

 

 

$

27,027

 

Components of Net Periodic Benefit Cost

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2025

 

 

September 30, 2024

 

 

September 30, 2025

 

 

September 30, 2024

 

Components of Net Periodic Benefit Cost

 

 

 

 

 

 

 

 

 

 

 

 

Service cost

 

$

133

 

 

$

163

 

 

$

366

 

 

$

489

 

Interest cost

 

 

1,128

 

 

 

341

 

 

 

1,128

 

 

 

1,023

 

Net (gain) loss

 

 

(62

)

 

 

15

 

 

 

(187

)

 

 

45

 

Net periodic benefit cost

 

$

1,199

 

 

$

519

 

 

$

1,307

 

 

$

1,557