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Employee Benefit Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Retirement Benefits [Abstract] |
Change in Plan Assets and Funded Status | The changes in benefit obligation, change in plan assets and funded status as of December 31, 2024 and 2023, are as follows:
|  |  | Pension Benefits |
|  |  | 2024 |  |  |  | 2023 |
Change in benefit obligation |  |  |  |  |  |  |  |
Benefit obligation – Beginning of year |  |  | $ | 11,393 |  |  |  | $ | 12,443 |
Interest cost |  |  |  | 535 |  |  |  |  | 599 |
Actuarial gain |  |  |  | (821 | ) |  |  |  | (119 | )
Benefits paid |  |  |  | (690 | ) |  |  |  | (1,530 | )
Annuity purchase |  |  |  | - |  |  |  |  | - |
Benefit obligation – End of year |  |  |  | 10,417 |  |  |  |  | 11,393 |
Change in plan assets |  |  |  |  |  |  |  |
Plan assets – Beginning of year |  |  |  | 10,347 |  |  |  |  | 11,403 |
Return on plan assets |  |  |  | (312 | ) |  |  |  | 474 |
Benefits paid |  |  |  | (690 | ) |  |  |  | (1,530 | )
Plan assets at fair value – End of year |  |  |  | 9,345 |  |  |  |  | 10,347 |
Funded status of plan – End of year |  |  | $ | (1,072 | ) |  |  | $ | (1,046 | )
Amounts Recognized in the Balance Sheets |
|  |  | Pension Benefits |
|  |  | 2024 |  |  |  | 2023 |
Amounts recognized in the Consolidated Balance Sheets |  |  |  |  |  |  |  |
Non-current liabilities |  |  |  | (1,072 | ) |  |  |  | (1,046 | )
Net amount recognized as of December 31 |  |  | $ | (1,072 | ) |  |  | $ | (1,046 | )
Amounts Recognized in Accumulated Other Comprehensive Loss | Amounts recognized in accumulated other comprehensive income but not yet recognized in earnings as of December 31, 2024 and 2023, are as follows:
|  |  | Pension Benefits |
|  |  | 2024 |  |  |  | 2023 |
Net actuarial loss |  |  | $ | 4,174 |  |  |  | $ | 4,524 |
Components of Net Periodic Benefit Cost | Components of net periodic benefit cost for the years ended December 31, 2024 and 2023, are as follows:
|  |  | Pension Benefits |
|  |  | 2024 |  |  |  | 2023 |
Components of net periodic benefit cost |  |  |  |  |  |  |  |
Interest cost |  | $ |  | 535 |  |  | $ |  | 599 |
Expected return on plan assets |  |  |  | (300 | ) |  |  |  | (319 | )
Amortization of unrecognized net loss |  |  |  | 145 |  |  |  |  | 150 |
Total net periodic benefit cost |  | $ |  | 380 |  |  | $ |  | 430 |
Schedule of Defined Benefit Plan Amounts Recognized in Other Comprehensive Income (Loss) | The increase in accumulated other comprehensive income (pre-tax) for the years ended December 31, 2024 and 2023, are as follows:
|  |  | Pension Benefits |
|  |  | 2024 |  |  |  | 2023 |
Net actuarial gain |  |  | $ | (213 | ) |  |  | $ | (274 | )
Amortization of: |  |  |  |  |  |  |  |
Actuarial loss from settlement |  |  |  | - |  |  |  |  | (313 | )
Net actuarial loss |  |  |  | (145 | ) |  |  |  | (150 | )
Total recognized in accumulated other comprehensive income |  |  | $ | (358 | ) |  |  | $ | (737 | )
Schedule of Expected Benefit Payments | The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid as of December 31, 2024:
|  |  | Pension Benefits |
2025 |  |  | $ | 772 |
2026 |  |  |  | 762 |
2027 |  |  |  | 747 |
2028 |  |  |  | 771 |
2029 |  |  |  | 772 |
2030 through 2034 |  |  |  | 3,900 |
Schedule of Assumptions Used | The assumptions used to determine end of year benefit obligations are shown in the following table:
|  |  | Pension Benefits
|  |  | 2024 |  |  | 2023
Discount rates |  |  | 5.67% |  |  | 5.01%
The assumptions used in the measurement of net periodic cost are shown in the following table:
|  |  | Pension Benefits
|  |  | 2024 |  |  | 2023
Discount rate for benefit obligations |  |  | 5.67% |  |  | 5.01% |
Expected return on plan assets |  |  | 3.00% |  |  | 3.00% |
Rate for interest on benefit obligations |  |  | 5.39% |  |  | 4.91% |
Discount rate for service cost |  |  | N/A |  |  | N/A |
Schedule of Allocation of Plan Assets | The Company’s pension plan’s weighted average asset allocations as of December 31, 2024 and 2023, and target allocations for 2025, by asset category, are as follows:
|  |  | December 31, |  |  | Target Allocation |
|  |  | 2024 |  |  | 2023 |  |  | 2025 |
Asset Category |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  |  |  | 1.50 | % |  |  | 0 | % |  | 0% - 5% |
Equity securities |  |  |  | 0 | % |  |  | 0 | % |  | 0% |
Fixed income securities |  |  |  | 98.50 | % |  |  | 100 | % |  | 95%-100% |
Real estate |  |  |  | 0 | % |  |  | 0 | % |  | 0% |
|  |  |  | 100 | % |  |  | 100 | % |  | 100% |
Schedule of Changes in Fair Value of Plan Assets | The following table presents the fair value of pension plan assets classified under the appropriate level of the ASC 820, Fair Value Measurement, fair value hierarchy as of December 31, 2024 and 2023. For further information on the fair value hierarchy, see Note 2 - Summary of Significant Accounting Policies.
Pension Plan Assets |  |  | As of December 31, 2024 |
|  |  | Level 1 |  |  |  | Level 2 |  |  |  | Level 3 |  |  |  | Total |
Mutual funds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income funds |  |  | $ | 9,207 |  |  |  | $ | - |  |  |  | $ | - |  |  |  | $ | 9,207 |
Cash and equivalents |  |  |  | 138 |  |  |  |  | - |  |  |  |  | - |  |  |  |  | 138 |
Total |  |  | $ | 9,345 |  |  |  | $ | - |  |  |  | $ | - |  |  |  | $ | 9,345 |
Pension Plan Assets |  |  | As of December 31, 2023 |
|  |  | Level 1 |  |  |  | Level 2 |  |  |  | Level 3 |  |  |  | Total |
Mutual funds: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fixed income funds |  |  | $ | 10,347 |  |  |  | $ | - |  |  |  | $ | - |  |  |  | $ | 10,347 |
Cash and equivalents |  |  |  | - |  |  |  |  | - |  |  |  |  | - |  |  |  |  | - |
Total |  |  | $ | 10,347 |  |  |  | $ | - |  |  |  | $ | - |  |  |  | $ | 10,347 |

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