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Employee Benefit and Deferred Compensation Plans
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Employee Benefit and Deferred Compensation Plans Employee Benefit and Deferred Compensation Plans
(In Thousands, Except Share Data)
 
Incentive Compensation Plans
The Company maintains the 2020 Long-Term Incentive Compensation Plan, a long-term equity compensation plan that provides for the award of restricted stock and the grant of stock options. The Company awards performance-based restricted stock to executives and other officers and employees and time-based restricted stock to non-employee directors, executives, and other officers and employees. In addition, The First maintained a long-term equity compensation plan, and the restricted stock awarded as of the date of the Company’s acquisition of The First was converted into adjusted restricted stock of the Company, subject to the same terms and conditions as prior to the merger.
The following table summarizes the changes in restricted stock as of and for the three months ended March 31, 2026:
Performance-Based Restricted StockWeighted Average Grant-Date Fair ValueTime-Based Restricted StockWeighted Average Grant-Date Fair Value
Nonvested at beginning of period195,347 $34.54 1,208,193 $34.48 
Awarded75,773 35.75 288,972 36.80 
Vested— — (340,179)35.62 
Cancelled— — (17,377)35.67 
Nonvested at end of period271,120 $34.88 1,139,609 $34.71 
Unrecognized stock-based compensation expense related to restricted stock totaled $26,731 at March 31, 2026. As of such date, the weighted average period over which the unrecognized expense is expected to be recognized was approximately 2.25 years.
During the three months ended March 31, 2026, the Company reissued 162,733 shares from treasury in connection with awards of restricted stock. The Company recorded total stock-based compensation expense of $5,474 and $3,780 for the three months ended March 31, 2026 and 2025, respectively.
There were no stock options granted or outstanding, nor compensation expense associated with options recorded, during the three months ended March 31, 2026 or 2025.