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Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement [Abstract]

Compensation Expense and Related Tax Benefits

The following table presents compensation expense and related tax benefits for all equity awards recognized in the consolidated statements of income for the years ended December 31:

			2024						2023						2022
			(dollars in thousands)
Compensation expense			$	10,907					$	11,265					$	15,081
Tax benefit			(2,466)						(2,484)						(2,690)
Total stock-based compensation, net of tax			$	8,441					$	8,781					$	12,391

Stock Option Activity

The following table provides information about stock option activity for the year ended December 31, 2024:

			Stock Options						Weighted Average Exercise Price						Weighted Average Remaining Contractual Term						Aggregate Intrinsic Value (in millions)
Outstanding and exercisable as of December 31, 2023			40,135						$	12.61
Granted			—						—
Exercised			(39,310)						12.61
Forfeited			—						—
Expired			(825)						12.61
Outstanding and exercisable as of December 31, 2024			—						$	12.61					0.0 years						$	—

Schedule Of Options Exercised

The following table presents information about stock options exercised for the years ended December 31:

			2024						2023						2022
			(dollars in thousands)
Number of options exercised			39,310						68,134						130,503
Total intrinsic value of options exercised			$	116					$	249					$	842
Cash received from options exercised			$	496					$	805					$	1,402
Tax benefit from options exercised			$	23					$	47					$	163

Schedule of Nonvested Share Activity

The following table provides information about nonvested restricted stock, RSUs and PSUs granted under the Employee Equity Plan and Directors' Plan for the year ended December 31, 2024:

									Restricted Stock/RSUs/PSUs(1)
															Shares						Weighted Average Grant Date Fair Value
Nonvested as of December 31, 2023															2,662,471						$	14.24
Granted															933,962						15.22
Vested															(739,626)						16.14
Forfeited															(153,810)						14.30
Nonvested as of December 31, 2024															2,702,997						$	14.57

(1) There were no nonvested stock options at December 31, 2024 or 2023.

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The fair value of certain PSUs with market-based performance conditions granted under the Employee Equity Plan was estimated on the grant date using the Monte Carlo valuation methodology performed by a third-party valuation expert. This valuation is dependent upon certain assumptions, as summarized in the following table:

			2024						2023						2022
Risk-free interest rate			4.75		%				3.84		%				2.84		%
Volatility of Corporation’s stock			30.54		%				35.63		%				43.46		%
Expected life of PSUs			3 years						3 years						3 years

Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions

The following table summarizes activity under the ESPP:

			2024						2023						2022
ESPP shares purchased			133,019						162,667						134,645
Average purchase price per share (85% of market value)			$	14.55					$	11.68					$	14.06
Compensation expense recognized (in thousands)			$	342					$	348					$	334

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