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Common Stock, Compensation Plans and Other (Tables)
3 Months Ended
Mar. 31, 2024
Equity [Abstract]  
Summary of Stock Option Transactions under Plan
The table below summarizes the stock option transactions under the Plan at March 31, 2024 and December 31, 2023 and changes during the three-month period and year then ended:
For the Three Months Ended March 31, 2024
For the Year Ended
December 31, 2023
Shares (000) Weighted-
Average
Exercisable
Price
Shares (000) Weighted-
Average
Exercisable
Price
Outstanding, beginning of year2,776 $20.95 2,971 $20.45 
Granted— — 25 22.63 
Forfeited/Expired(19)22.32 (10)23.38 
Exercised(188)17.78 (210)14.01 
Outstanding, end of period2,569 21.17 2,776 20.95 
Exercisable, end of period1,987 20.65 1,940 20.05 
Summary of Stock Options on Valuation Assumptions
The assumptions used in determining the fair value of the 2024 and 2023 stock option grants were as follows:
For the Three Months Ended March 31, 2024
For the Year Ended December 31, 2023
Expected dividend yieldNot Applicable2.98 %
Expected stock price volatilityNot Applicable27.97 %
Risk-free interest rateNot Applicable3.37 %
Expected life of optionsNot Applicable6.5 years
Summary of Currently Outstanding and Exercisable Options
The following is a summary of currently outstanding and exercisable options at March 31, 2024:
Options OutstandingOptions Exercisable
Exercise PricesOptions
Outstanding
Shares
(000)
Weighted-
Average
Remaining
Contractual
Life (in years)
Weighted-
Average
Exercise
Price
Options
Exercisable
Shares (000)
Weighted-
Average
Exercise
Price
$14.00 to $15.99
100 0.79$14.71 100 $14.71 
$16.00 to $17.99
87 1.0117.05 87 17.05 
$18.00 to $19.99
736 1.5618.49 730 18.48 
$20.00 to $21.99
261 4.3720.88 194 20.99 
$22.00 to $23.99
1,295 4.4023.22 805 23.19 
$24.00 to $25.99
91 4.1525.59 71 25.95 
2,570 1,987 
Summary of Company's Restricted Stock Issued and Outstanding
The table below summarized the activity for the Company’s restricted stock issued and outstanding at March 31, 2024 and December 31, 2023 and changes during the period and year then ended:
As of
March 31, 2024
As of
December 31, 2023
(In thousands)
Beginning of year1,429 1,381 
Issued238 261 
Vested(433)(152)
Forfeited(18)(61)
End of period1,216 1,429 
Amount of expense for the three months and twelve months ended, respectively
$2,008 $8,016