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Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Summary of Projected Benefit Obligation
A summary of the activity in the Plan’s projected benefit obligation, assets, funded status and amounts recognized in the Company’s consolidated balance sheets is as follows:
(In thousands)20242023
Projected benefit obligation:
Balance, January 1 $87,127 $85,433 
Interest cost 4,280 4,314 
Actuarial (gain) loss(6,047)865 
Benefits paid (84,576)(3,485)
Balance, December 31
$784 $87,127 
Plan assets:
Fair value, January 1 $86,754 $83,394 
Actual investment return 996 8,097 
Expenses paid from plan assets(1,045)(1,252)
Benefits paid (84,576)(3,485)
Fair value, December 31
$2,129 $86,754 
Funded status:
Accrued pension asset (liability)$1,345 $(373)
A summary of the activity in the SERP’s projected benefit obligation and amounts recognized in the Company’s consolidated balance sheets is as follows:
December 31,
(In thousands)20242023
Benefit obligation:
Balance, January 1 $9,501 $9,579 
Interest cost 450 472 
Benefits paid (382)(400)
Actuarial gain(757)(150)
Balance, December 31
$8,812 $9,501 
Schedule of Assumptions used to Determine Projected Benefit Obligation
For 2024, 2023 and 2022, the Plan’s expected benefit cash flows were discounted using the FTSE Above Median Double-A Curve. For 2023 and 2022 the Pri-2012 Mortality Table and MP-2022 Mortality Improvement Scale were used.
202420232022
Weighted average discount rate 5.60 %5.05 %5.25 %
Rate of increase in compensation levels N/AN/AN/A
The following represent the major assumptions used to determine the projected benefit obligation of the SERP. For 2024, 2023 and 2022, the SERP’s expected benefit cash flows were discounted using the FTSE Above Median Double-A Curve.
202420232022
Weighted average discount rate 5.50 %4.95 %5.15 %
Rate of increase in compensation levels N/AN/AN/A
Schedule of Expected Benefit Payments
Amount
2025$784,000 
2026 and thereafter— 
Expected future benefits payable by the Company over the next ten years are as follows:
Amount
2025$792,000 
2026789,000 
2027786,000 
2028781,000 
2029774,000 
2030-2034$3,711,000 
Schedule of Plan's Pension Costs
The Plan’s net periodic pension cost (benefit) included the following components:
For the Year Ended
December 31,
(In thousands)202420232022
Service cost – benefits earned during the year $— $— $— 
Interest cost on projected benefit obligations 4,280 4,314 3,293 
Expected return on plan assets (3,566)(3,735)(5,857)
Net amortization and deferral 3,458 154 — 
Net periodic pension cost (benefit)$4,172 $733 $(2,564)
Schedule of Assumptions used to Determine Net Pension Cost
The following represent the major assumptions used to determine the net periodic pension cost (benefit) of the Plan:
202420232022
Weighted average discount rate 5.05 %5.25 %2.85 %
Rate of increase in compensation levels N/AN/AN/A
Expected long-term rate of return on assets 5.00 %6.00 %6.00 %
Summary of the Fair Value Measurements by Type of Asset
A summary of the fair value measurements by type of asset is as follows:
Fair Value Measurements as of December 31,
20242023
(In thousands)TotalQuoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Observable
Inputs
(Level 2)		TotalQuoted Prices
in Active
Markets for
Identical
Assets
(Level 1)		Observable
Inputs
(Level 2)
Cash $2,129 $2,129 $— $614 $614 $— 
Real estate investment trusts— — — 2,849 — 2,849 
Equity securities
U.S. Small/Mid Cap Growth — — — 987 — 987 
Non-U. S. Core — — — 3,811 — 3,811 
U.S. Large Cap Passive — — — 3,333 — 3,333 
Emerging Markets — — — 1,391 — 1,391 
Fixed Income
U.S. Core — — — 69,710 — 69,710 
Opportunistic — — — 4,059 — 4,059 
Total $2,129 $2,129 $— $86,754 $614 $86,140 
Schedule Of Net Periodic Pension Cost Related To SERP
Net periodic benefit cost related to the SERP included the following components:
For the Year Ended December 31,
(In thousands)202420232022
Service cost – benefits earned during the year $— $— $— 
Interest cost on projected benefit obligations 450 472 318 
Net amortization and deferral — — 108 
Net periodic pension cost $450 $472 $426 
Schedule of Pretax Amounts in Accumulated Other Comprehensive Loss
The pretax amounts in accumulated other comprehensive loss as of December 31 were as follows:
The PlanSERP
(In thousands)2024202320242023
Prior service cost $— $— $— $— 
Net actuarial loss (gain) — 4,434 (1,044)(287)
Total $— $4,434 $(1,044)$(287)