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Stock Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Summary of Changes in Company's Nonvested Restricted Stock Awards | A summary of changes in the Company’s nonvested Restricted Stock Awards (“RSAs”) under the Omnibus Incentive Plan for the year ended December 31, 2021 were as follows:
Nonvested RSAs |  | Shares |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2021 |  | 205,536 |  |  | $ | 29.17 |
Granted |  | 241,014 |  |  | 89.06 |
Vested |  | (78,017) |  |  | 34.08 |
Forfeited |  | (5,129) |  |  | 48.41 |
Nonvested at December 31, 2021 |  | 363,404 |  |  | $ | 67.56 |
Summary of Changes in Company's Nonvested Restricted Stock Units | A summary of changes in the Company’s nonvested Restricted Stock Units (“RSUs”) under the Omnibus Incentive Plan for the year ended December 31, 2021 were as follows:
Nonvested RSUs |  | Shares |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2021 |  | 89,713 |  |  | $ | 33.34 |
Granted |  | 32,757 |  |  | 103.36 |
Vested |  | — |  |  | — |
Forfeited |  | — |  |  | — |
Nonvested at December 31, 2021 |  | 122,470 |  |  | $ | 52.07 |
Summary of Changes in Company's Nonvested Performance Stock Units | A summary of changes in the Company’s nonvested Market Based Performance Stock Units (“Market Based PSUs”) under the Omnibus Incentive Plan for the year ended December 31, 2021 were as follows:
Nonvested Market Based PSUs |  | Shares |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2021 |  | 85,611 |  |  | $ | 35.65 |
Granted |  | 13,520 |  |  | 98.03 |
Vested |  | — |  |  | — |
Forfeited |  | (4,147) |  |  | 55.02 |
Nonvested at December 31, 2021 |  | 94,984 |  |  | $ | 43.68 |
A summary of changes in the Company’s nonvested Performance Based Performance Stock Units (“Performance Based PSUs”) under the Omnibus Incentive Plan for the year ended December 31, 2021 were as follows:
Nonvested Performance Based PSUs |  | Shares |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2021 |  | 256,625 |  |  | $ | 37.56 |
Granted |  | 9,000 |  |  | 88.63 |
Vested |  | — |  |  | — |
Forfeited |  | (6,242) |  |  | 38.02 |
Nonvested at December 31, 2021 |  | 259,383 |  |  | $ | 39.32 |
Schedule of Fair Value of Market Based Performance Stock Units, Weighted Average Assumptions | The fair value of the Market Based PSUs granted was determined using the following weighted average assumptions:
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
Grant date | May 1, 2021 |  | May 1, 2020 |  | May 1, 2019
Performance period | 3.00 years |  | 3.00 years |  | 3.00 years
Stock price | $ | 88.63 |  |  | $ | 26.25 |  |  | $ | 30.82 |
Triumph stock price volatility | 51.71 | % |  | 43.02 | % |  | 28.29 | %
Risk-free rate | 0.35 | % |  | 0.25 | % |  | 2.25 | %
Summary of Changes in Company's Stock Options | A summary of changes in the Company’s stock options under the Omnibus Incentive Plan for the year ended December 31, 2021 were as follows:
Stock Options |  | Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (In Years) |  | Aggregate Intrinsic Value (In Thousands)
Outstanding at January 1, 2021 |  | 227,986 |  |  | $ | 25.16 |  |  |  |  |
Granted |  | 16,939 |  |  | 88.63 |  |  |  |  |
Exercised |  | (78,170) |  |  | 22.13 |  |  |  |  |
Forfeited |  | — |  |  | — |  |  |  |  |
Expired |  | — |  |  | — |  |  |  |  |
Outstanding at December 31, 2021 |  | 166,755 |  |  | $ | 33.34 |  |  | 6.43 |  | $ | 14,297 |
Fully vested shares and shares expected to vest at December 31, 2021 |  | 166,755 |  |  | $ | 33.34 |  |  | 6.43 |  | $ | 14,297 |
Shares exercisable at December 31, 2021 |  | 103,994 |  |  | $ | 25.64 |  |  | 5.43 |  | $ | 9,717 |
Schedule of Information Related to Stock Options | Information related to the stock options for the years ended December 31, 2021, 2020 and 2019 was as follows:
| Year Ended December 31,
(Dollars in thousands, except per share amounts) | 2021 |  | 2020 |  | 2019
Aggregate intrinsic value of options exercised | $ | 5,304 |  |  | $ | 940 |  |  | $ | 155 |
Cash received from option exercises | $ | 577 |  |  | $ | — |  |  | $ | — |
Tax benefit realized from option exercises | $ | 1,114 |  |  | $ | 197 |  |  | $ | 33 |
Weighted average fair value of options granted (per share) | $ | 35.37 |  |  | $ | 8.85 |  |  | $ | 10.03 |
Fair value of vested awards | $ | 381 |  |  | $ | 471 |  |  | $ | 465 |
Fair Value of Stock Options Granted Weighted-Average Assumptions | The fair value of the stock options granted was determined using the following weighted average assumptions:
| 2021 |  | 2020 |  | 2019
Risk-free interest rate | 1.16 | % |  | 0.46 | % |  | 2.33 | %
Expected term | 6.25 years |  | 6.25 years |  | 6.25 years
Expected stock price volatility | 39.26 | % |  | 33.83 | % |  | 27.46 | %
Dividend yield | — |  |  | — |  |  | — |

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- Definition Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2A -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=SL79508275-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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