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Stock Award Plans
 6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]  
Stock Award Plans

(7) Stock Award Plans

The compensation cost that has been charged against earnings for the Company’s stock award plans and the income tax benefit recognized in the statement of earnings for stock awards were as follows (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Compensation cost

 

$

3,104

 

 

$

2,590

 

 

$

8,912

 

 

$

8,555

 

Income tax benefit

 

$

754

 

 

$

743

 

 

$

2,247

 

 

$

2,300

 

 

During the six months ended June 30, 2023, the Company granted 182,395 restricted stock units (“RSUs”) to selected officers and other key employees under the employee stock award plan, the majority of which vest ratably over five years and 31,526 shares of restricted stock to nonemployees directors of the Company under the director stock plan, the majority of which vest six months after the date of grant.