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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Components of Share Based Compensation Awards

The following table summarizes the components of the Corporation's share-based compensation awards recorded as an expense and the income tax benefit of such awards. In 2020, the Corporation had RSAs vest primarily at a stock price that was lower than the grant date stock price, which resulted in the recognition of income tax expense at vesting of $394,000. For the years ended 2019 and 2018, RSAs vested at a stock price higher than the grant date stock price resulting in recognition of income tax benefit at vesting of $363,000 and $448,000, respectively.

			Years Ended December 31,
			2020						2019						2018
Stock and ESPP Options
Pre-tax compensation expense			$	96					$	101					$	109
Income tax benefit			(29)						(70)						(97)
Stock and ESPP option expense, net of income taxes			$	67					$	31					$	12
Restricted Stock Awards
Pre-tax compensation expense			$	4,504					$	4,014					$	3,483
Income tax benefit			(552)						(1,206)						(1,179)
Restricted stock awards expense, net of income taxes			$	3,952					$	2,808					$	2,304
Total Share-Based Compensation:
Pre-tax compensation expense			$	4,600					$	4,115					$	3,592
Income tax benefit			(581)						(1,276)						(1,276)
Total share-based compensation expense, net of income taxes			$	4,019					$	2,839					$	2,316

Stock Option Activity Under Stock Option Plans

Stock option activity under the Corporation's stock option plans, as of December 31, 2020, and changes during the year ended December 31, 2020, were as follows:

			Number of Shares						Weighted-Average Exercise Price						Weighted Average Remaining Contractual Term (in Years)						Aggregate Intrinsic Value
Outstanding at January 1, 2020			59,350						$	13.51					—						$	—
Exercised			(13,550)						$	8.48					—						$	—
Outstanding December 31, 2020			45,800						$	15.00					1.94						$	1,026,578
Vested and Expected to Vest at December 31, 2020			45,800						$	15.00					1.94						$	1,026,578
Exercisable at December 31, 2020			45,800						$	15.00					1.94						$	1,026,578

Summary of Unvested RSAs Outstanding

The following table summarizes information on unvested RSAs outstanding as of December 31, 2020:

			Number of Shares						Weighted-Average Grant Date Fair Value
Unvested RSAs at January 1, 2020			351,048						$	40.67
Granted			140,577						$	27.25
Forfeited			(5,450)						$	37.81
Vested			(128,292)						$	39.67
Unvested RSAs at December 31, 2020			357,883						$	36.30

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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