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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Retirement Benefits, Description [Abstract] |
Schedule of Accumulated Post-retirement Benefit Obligation and Funded Status | The following table sets forth the accumulated post-retirement benefit obligation and funded status:
At December 31, | 2024 |  | 2023 |  | 2022
Change in benefit obligations |  |  |  |  |
Benefit obligation at beginning of year: | $ | 919,000 |  |  | $ | 1,050,000 |  |  | $ | 1,353,000 |
Interest cost | 41,000 |  |  | 48,000 |  |  | 33,000 |
Benefits paid | (73,000) |  |  | (79,000) |  |  | (93,000) |
Actuarial gain | (44,000) |  |  | (100,000) |  |  | (243,000) |
Benefit obligation at end of year: | $ | 843,000 |  |  | $ | 919,000 |  |  | $ | 1,050,000 |
Funded status |  |  |  |  |
Benefit obligation at end of year | $ | (843,000) |  |  | $ | (919,000) |  |  | $ | (1,050,000) |
Unamortized gain | (363,000) |  |  | (384,000) |  |  | (345,000) |
Accrued benefit cost | $ | (1,206,000) |  |  | $ | (1,303,000) |  |  | $ | (1,395,000) |
Weighted average discount rate as of December 31 | 5.30 | % |  | 4.67 | % |  | 4.75 | %
Schedule of Net Pension Costs | The following table sets forth the net periodic benefit cost:
For the years ended December 31, | 2024 |  | 2023 |  | 2022
Components of net periodic benefit cost |  |  |  |  |
Interest cost | $ | 41,000 |  |  | $ | 48,000 |  |  | $ | 33,000 |
Amortization of gains | (33,000) |  |  | — |  |  | — |
Other settlement income | (31,000) |  |  | (33,000) |  |  | (31,000) |
Net periodic benefit (credit) cost | $ | (23,000) |  |  | $ | 15,000 |  |  | $ | 2,000 |
Weighted average discount rate for net periodic cost | 4.67 | % |  | 4.75 | % |  | 2.50 | %
Schedule of Net Periodic Benefit Cost Not Yet Recognized | In accordance with FASB ASC Topic 715, "Compensation – Retirement Benefits", amounts not yet reflected in net periodic benefit cost and included in AOCI are as follows:
At December 31, | 2024 |  | 2023 |  | Portion to Be Recognized in Income in 2024
Unamortized net actuarial gain | $ | 363,000 |  |  | $ | 384,000 |  |  | $ | — |
Deferred tax expense at 21% | (76,000) |  |  | (81,000) |  |  | — |
Net unrecognized post-retirement benefits included in accumulated other comprehensive income | $ | 287,000 |  |  | $ | 303,000 |  |  | $ | — |

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- Definition Tabular disclosure of the change in the benefit obligation, fair value of plan assets, and funded status of pension plans or other employee benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (a)(b)(c) -Paragraph 1 -SubTopic 20 -Topic 715 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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- 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://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
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- Definition Tabular disclosure of the amounts related to pension plans and/or other employee benefit plans in accumulated other comprehensive income or loss that have not yet been recognized as components of net periodic benefit cost, such as the net gain (loss), net prior service cost or credit, and net transition asset or obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 715 -SubTopic 20 -Subparagraph (j) -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480506/715-20-50-1 + Details
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