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Stock Based Compensation Plans
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock Based Compensation Plan Stock Based Compensation Plans
Restricted Stock Plan
The following table summarizes restricted stock activity:
Year ended December 31,
202420232022
Number of RSUsWeighted Average Grant-Date Fair ValueNumber of RSUsWeighted Average Grant-Date Fair ValueNumber of RSUsWeighted Average Grant-Date Fair Value
Non-vested shares at beginning of year786,762 $77.52 752,622 $70.84 660,166 $62.84 
Granted146,045 98.69239,041 91.50 272,212 84.07 
Vested(168,187)72.99(156,569)66.81 (136,076)59.31 
Canceled(74,555)80.55(48,332)77.40 (43,680)68.23 
Non-vested shares at end of year690,065 82.77786,762 77.52 752,622 70.84 
As of December 31, 2024, there was $28.2 million of unrecognized compensation cost included in equity on the consolidated balance sheet related to restricted stock, which is expected to be recognized as compensation expense in future periods as shown in the table below.
2025$10,621 
20266,460 
20274,080 
20282,597 
20291,755 
2030 and thereafter2,681 
$28,194 
For the years ended December 31, 2024, 2023, and 2022, the Company recognized compensation expense of $11.7 million, $16.2 million, and $13.9 million, respectively, related to shares issued under the restricted stock plan, which is included in "salaries and benefits" on the consolidated statements of income.
Employee Share Purchase Plan
The Company has an employee share purchase plan pursuant to which employees are entitled to purchase Class A common stock from payroll deductions at a 15% discount from market value up to a maximum purchase price of $25,000. During the years ended December 31, 2024, 2023, and 2022, the Company recognized compensation expense of $0.2 million, $0.1 million, and $0.1 million, respectively, in connection with issuing 26,884 shares, 26,585 shares, and 26,011 shares, respectively, under this plan, which is included in "salaries and benefits" on the consolidated statements of income.
Directors Compensation Plan
The Company has a compensation plan for directors pursuant to which directors can elect to receive their annual retainer fees in the form of cash or Class A common stock. If a director elects to receive Class A common stock, the number of shares of Class A common stock that are awarded is equal to the amount of the annual retainer fee otherwise payable in cash divided by 85% of the fair market value of a share of Class A common stock on the date the fee is payable. Directors who choose to receive Class A common stock may also elect to defer receipt of the Class A common stock until termination of their service on the board of directors. The following table presents the number of shares awarded under this plan for the years ended December 31, 2024, 2023, and 2022.
Shares issued -
not deferred		Shares issued-
deferred		Total
Year ended December 31, 20246,919 10,023 16,942 
Year ended December 31, 20236,782 10,022 16,804 
Year ended December 31, 202211,861 12,937 24,798 
As of December 31, 2024, a cumulative amount of 169,087 shares have been deferred by directors and will be issued upon the termination of their service on the board of directors. These shares are included in the Company's weighted average shares outstanding calculation.
For the years ended December 31, 2024, 2023, and 2022, the Company recognized $1.6 million, $1.7 million, and $1.8 million, respectively, of expense related to this plan (which includes fees paid in both cash and stock), which is included in "other expenses" on the consolidated statements of income.