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Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2024
Employee Benefit Plans  
Schedule of funded status of retirement income plan

December 31, 

    

2023

(in thousands)

  

Accumulated benefit obligation at end of year

$

Change in projected benefit obligation:

 

  

Benefit obligation at beginning of year

$

29,651

Service cost

 

Interest cost

 

22

Actuarial gain

 

(3,715)

Benefits paid

 

(836)

Settlement

(25,122)

Projected benefit obligation at end of year

$

Change in Plan assets:

 

Fair value of Plan assets at beginning of year

$

20,041

Actual return on Plan assets

 

249

Employer contribution

 

5,454

Benefits paid

 

(836)

Transfer of assets

524

Refund related to Plan trust dissolution

(310)

Settlement

(25,122)

Fair value of Plan assets at end of year

$

Funded status at end of year

$

Schedule of net periodic benefit cost

2023

2022

(in thousands)

Interest cost (1)

$

22

 

$

972

Amortization of net losses (1)

226

 

1,010

Settlement loss

18,286

2,921

Net periodic benefit cost

$

18,534

$

4,903

Schedule of amounts recognized in other comprehensive loss

December 31,

    

    

2023

    

2022

(in thousands)

Net (loss) gain

$

(3,964)

$

2,939

Amortization of net loss

(226)

(1,010)

Settlement loss

(18,286)

(2,921)

Amount recognized in accumulated other comprehensive (loss) income

$

(22,476)

$

(992)

Schedule of weighted average assumptions

December 31, 

    

2023

    

2022

 

Net Benefit Cost:

 

  

 

  

Discount rate

 

N/A

4.86

%

Expected return on Plan assets

 

N/A

0.0

%

Rate of compensation increase

 

N/A

N/A

Schedule of summary of the changes in non-vested restricted shares

The following is a summary of the changes in non-vested restricted shares for the year ended December 31, 2024:

Weighted Average 

    

Shares

    

Grant-Date Fair Value

Non-vested shares at January 1, 2024

3,532,185

$

7.35

Granted

 

1,414,376

 

7.27

Vested

 

(1,102,849)

 

8.08

Forfeited

 

(154,995)

 

6.81

Non-vested shares at December 31, 2024

 

3,688,717

$

7.13

The following is a summary of the changes in non-vested restricted shares for the year ended December 31, 2023:

    

Weighted Average 

    

Shares

    

Grant-Date Fair Value

Non-vested shares at January 1, 2023

3,248,728

$

6.87

Granted

 

1,235,728

 

9.50

Vested

 

(859,485)

 

8.63

Forfeited

 

(92,786)

 

7.74

Non-vested shares at December 31, 2023

 

3,532,185

$

7.35