XML 49 R36.htm IDEA: XBRL DOCUMENT v3.25.4
Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Changes in the projected benefit obligation, plan assets and Accrued pension benefit costs
Changes in the projected benefit obligation and plan assets during each year, the funded status of the plan, and the net amount recognized in our consolidated balance sheets using an actuarial measurement date of December 31, are summarized as follows during the years ended December 31:
20252024
Change in benefit obligation
Benefit obligation, beginning balance$6,403 $6,628 
Interest cost317 294 
Actuarial loss (gain)169 (76)
Benefits paid, including plan expenses(757)(443)
Benefit obligation, ending balance6,132 6,403 
Change in plan assets
Fair value of plan assets, beginning balance7,303 7,066 
Investment return (loss)1,031 680 
Contributions— — 
Benefits paid, including plan expenses(757)(443)
Fair value of plan assets, ending balance7,577 7,303 
Surplus (deficiency) in funded status, ending balance$1,445 $900 
Accumulated benefit obligation, ending balance$6,132 $6,403 
20252024
Change in accrued pension benefit costs
Accrued benefit cost, beginning balance$900 $438 
Contributions— — 
Net periodic benefit (cost) credit91 82 
Net change in unrecognized actuarial loss and prior service cost454 380 
Prepaid (accrued) pension liability, ending balance$1,445 $900 
Components of net periodic benefit cost
The components of net periodic benefit cost are as follows for the years ended December 31:
202520242023
Interest cost on benefit obligation$317 $294 $317 
Expected return on plan assets(411)(402)(371)
Amortization of unrecognized actuarial net loss— 26 149 
Settlement loss— — 
Net periodic benefit cost (credit)$(91)$(82)$95 
Schedule of defined benefit plan amounts recognized in other comprehensive income (loss)
The components of accumulated other comprehensive income are as follows for the years ended December 31:
202520242023
Transition (asset) obligation$— $— $— 
Net (gain) loss48 502 882 
Past service (credit) cost— — — 
Accumulated other comprehensive income$48 $502 $882 
Actuarial assumptions used
The actuarial assumptions used in determining the benefit obligation are as follows for the years ended December 31:
202520242023
Discount rate5.05 %5.32 %4.69 %
Expected long-term rate of return on plan assets6.00 %6.00 %6.00 %
The actuarial weighted average assumptions used in determining the net periodic pension costs are as follows for the years ended December 31:
202520242023
Discount rate5.32 %4.69 %4.88 %
Expected long-term rate of return on plan assets6.00 %6.00 %6.00 %
Fair values of the corporations pension plan assets by asset category
The fair values of our pension plan assets by asset category were as follows as of December 31:
 20252024
Total(Level 2)Total(Level 2)
Short-term investments$52 $52 $234 $234 
Common collective trusts
Fixed income3,537 3,537 3,322 3,322 
Equity investments3,988 3,988 3,747 3,747 
Total$7,577 $7,577 $7,303 $7,303 
Summary of estimated future benefit payments
Estimated future benefit payments are as follows for the next ten years:
Estimated Benefit Payments
2026$1,023 
2027514 
2028525 
2029565 
2030525 
2031 - 20352,190 
Components of shares eligible to be issued under the Directors Plan
The components of shares eligible to be issued under the Directors Plan were as follows as of December 31:
20252024
 Eligible
Shares
Market
Value
Eligible
Shares
Market
Value
Unissued98,611 $4,931 101,493 $2,638 
Shares held in Rabbi Trust129,618 6,481 142,535 3,704 
Changes in nonvested restricted stock awards
A summary of changes in nonvested restricted stock awards follows for the years ended December 31:
20252024
Number
of Shares
Fair
Value
Number
of Shares
Fair
Value
Beginning balance14,733 $323 27,072 $592 
Granted6,125 144 3,901 76 
Vested(8,023)(173)(16,240)(345)
Forfeited— — — — 
Ending balance12,835$294 14,733$323