EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2024

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS

The Company sponsors unfunded, non-qualified SERPs for certain officers and provides medical and life insurance to certain eligible retired employees.

The components of net periodic pension and postretirement benefit costs were as follows for the following periods:

Supplemental Executive Retirement Plan:

(In thousands)	Location on Consolidated Statements of Income	Three Months Ended September 30,				Nine Months Ended September 30,
Net periodic pension cost		2024		2023		2024		2023
Service cost (1)	Salaries and employee benefits	$	—	$	71	$	—	$	211
Interest cost	Other expenses	181		189		542		567
Total		$	181	$	260	$	542	$	778

(1)    As of December 31, 2023, there are no active participants in the SERP.

Other Postretirement Benefit Plan:

(In thousands)	Location on Consolidated Statements of Income	Three Months Ended September 30,				Nine Months Ended September 30,
Net periodic postretirement benefit cost		2024		2023		2024		2023
Service cost	Salaries and employee benefits	$	2	$	3	$	6	$	8
Interest cost	Other expenses	38		40		115		121
Recognized net actuarial gain	Other expenses	(1)		(1)		(3)		(2)
Amortization of prior service credit	Other expenses	(7)		(7)		(19)		(18)
Total		$	32	$	35	$	99	$	109