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Stock and Incentive Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Black-Scholes Option Pricing Model | The table below includes the weighted-average assumptions used to calculate the grant date fair value of the ESPP rights for the periods indicated using the Black-Scholes option pricing model:
|  |  | Years Ended December 31,
|  |  |  |  | 2024 |  | 2023 |  | 2022
Expected term (in years) |  |  |  |  | 1.00 |  | 1.00 |  | 1.00
Dividend yield |  |  |  |  | $ | 2.02 |  |  | $ | 1.88 |  |  | $ | 1.41 |
Risk-free interest rate |  |  |  |  | 4.94 | % |  | 3.90 | % |  | 1.24 | %
Expected volatility |  |  |  |  | 30.69 |  |  | 31.63 |  |  | 37.90 |
Schedule of ESPP Shares Purchased | The ESPP shares purchased are as follows for the dates indicated:
|  |  | Years Ended December 31,
|  |  |  |  | 2024 |  | 2023 |  | 2022
ESPP shares purchased |  |  |  |  | 56,658 |  |  | 46,213 |  |  | 26,089 |
Shares available for issuance under the ESPP |  |  |  |  | 871,040 |  |  | 927,698 |  |  | 973,911 |
Schedule of Compensation Expense | Compensation expense for the CEO PSUs will be recognized over the vesting period of the awards based on the fair value of the award at the grant date determined by using a Monte Carlo simulation model with the following inputs:
Simulation Inputs | Year Ended December 31, 2022
Grant date | December 13, 2022
Performance period | seven years
Stock price | $ | 36.87 |
Expected volatility (1) | 33.0 | %
Risk-free rate (2) | 3.5 |
__________________________ (1)The expected volatility was determined based on the historical volatilities of the Company and the specified peer group. (2)The risk-free interest rate for the performance period was derived from the seven-year continuous U.S. Treasury Yield constant maturity curve on the valuation date.
Schedule of Time-Vested Award Activity | The following table summarizes the Company’s award activity:
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| Shares |  | Weighted Average Grant-Date Fair Value |  | Shares |  | Weighted Average Grant-Date Fair Value |  | Shares |  | Weighted Average Grant-Date Fair Value
Nonvested RSAs, January 1, | 17,629 |  |  | $ | 29.33 |  |  | 27,391 |  |  | $ | 35.37 |  |  | 48,048 |  |  | $ | 35.27 |
Granted RSAs | 20,415 |  |  | 33.06 |  |  | 16,788 |  |  | 28.61 |  |  | 12,840 |  |  | 37.39 |
Vested RSAs | (17,629) |  |  | 29.33 |  |  | (26,550) |  |  | 35.11 |  |  | (33,497) |  |  | 36.00 |
Nonvested RSAs, December 31, | 20,415 |  |  | 33.06 |  |  | 17,629 |  |  | 29.33 |  |  | 27,391 |  |  | 35.37 |
Nonvested RSUs, January 1, | 318,168 |  |  | $ | 37.69 |  |  | 270,390 |  |  | $ | 39.63 |  |  | 73,977 |  |  | $ | 40.64 |
Granted RSUs | 119,149 |  |  | 32.01 |  |  | 116,098 |  |  | 35.65 |  |  | 222,282 |  |  | 39.43 |
Vested RSUs | (83,889) |  |  | 38.93 |  |  | (55,614) |  |  | 41.98 |  |  | (24,028) |  |  | 40.56 |
Forfeited RSUs | (1,426) |  |  | 42.15 |  |  | (12,706) |  |  | 41.59 |  |  | (1,841) |  |  | 43.48 |
Nonvested RSUs, December 31, | 352,002 |  |  | 35.45 |  |  | 318,168 |  |  | 37.69 |  |  | 270,390 |  |  | 39.63 |
Nonvested PSUs, January 1, | 197,842 |  |  | $ | 28.33 |  |  | 157,367 |  |  | $ | 29.06 |  |  | — |  |  | $ | — |
Granted PSUs | 67,355 |  |  | 33.03 |  |  | 43,591 |  |  | 31.77 |  |  | 157,367 |  |  | 29.06 |
Forfeited PSUs | — |  |  | — |  |  | (3,116) |  |  | 31.77 |  |  | — |  |  | — |
Nonvested PSUs, December 31, | 265,197 |  |  | 32.07 |  |  | 197,842 |  |  | 28.33 |  |  | 157,367 |  |  | 29.06 |
Schedule of Share-Based Compensation Cost Charged to Income | Share-based compensation cost charged to income for the years ended December 31, 2024, 2023 and 2022, is presented below. There was no stock option expense for any of the periods shown.
|  |  | Years Ended December 31,
(Dollars in thousands) |  |  |  |  | 2024 |  | 2023 |  | 2022
RSA & RSU |  |  |  |  | $ | 4,631 |  |  | $ | 4,321 |  |  | $ | 2,845 |
PSU |  |  |  |  | 2,043 |  |  | 534 |  |  | 288 |
ESPP |  |  |  |  | 492 |  |  | 426 |  |  | 316 |
Total stock compensation expense |  |  |  |  | $ | 7,166 |  |  | $ | 5,281 |  |  | $ | 3,449 |
Related tax benefits recognized in net income |  |  |  |  | $ | 1,505 |  |  | $ | 1,109 |  |  | $ | 724 |
Schedule of Stock Option Activity | The table below summarizes the Company’s option activity:
(Dollars in thousands, except per share amounts) | Number of Shares |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Year Ended December 31, 2024 |  |  |  |  |  |  |
Outstanding at January 1, 2024 | 353,473 |  |  | $ | 31.49 |  |  | 4.46 |  | $ | 1,670 |
Exercised | (73,188) |  |  | 26.50 |  |  | — |  |  | 559 |
Expired and forfeited | (54,451) |  |  | 35.06 |  |  | — |  |  | — |
Outstanding and exercisable at December 31, 2024 | 225,834 |  |  | 32.24 |  |  | 3.72 |  | 614 |
Year Ended December 31, 2023 |  |  |  |  |  |  |
Outstanding at January 1, 2023 | 504,437 |  |  | $ | 29.46 |  |  | 5.13 |  | $ | 3,736 |
Exercised | (135,746) |  |  | 23.61 |  |  | — |  |  | 1,533 |
Expired and forfeited | (15,218) |  |  | 34.48 |  |  | — |  |  | — |
Outstanding and exercisable at December 31, 2023 | 353,473 |  |  | 31.49 |  |  | 4.46 |  | 1,670 |
Year Ended December 31, 2022 |  |  |  |  |  |  |
Outstanding at January 1, 2022 | 39,200 |  |  | $ | 10.73 |  |  | 2.28 |  | $ | 1,262 |
BTH options converted to OBK options | 611,676 |  |  | 28.62 |  |  | — |  |  | 8,838 |
Exercised | (144,785) |  |  | 20.80 |  |  | — |  |  | 2,992 |
Expired and forfeited | (1,654) |  |  | 34.44 |  |  | — |  |  | — |
Outstanding and exercisable at December 31, 2022 | 504,437 |  |  | 29.46 |  |  | 5.13 |  | 3,736 |

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