XML 41 R30.htm IDEA: XBRL DOCUMENT
v3.25.2

Stock and Incentive Compensation Plans (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2025
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:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
Expected term (in years) | 1.00 |  | 1.00 |  | 1.00 |  | 1.00 |  |
Dividend yield | 1.91 | % |  | 2.04 | % |  | 1.95 | % |  | 2.06 | % |  |
Risk-free interest rate | 4.60 |  |  | 4.94 |  |  | 4.77 |  |  | 4.94 |  |  |
Expected volatility | 30.13 |  |  | 30.86 |  |  | 30.26 |  |  | 30.99 |  |  |
Schedule of ESPP Shares Purchased | The ESPP shares purchased are as follows for the dates indicated:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2025 |  | 2024 |  | 2025 |  | 2024 |  |
ESPP shares purchased | 58,568 |  |  | 56,658 |  |  | 58,568 |  |  | 56,658 |  |  |
Shares available for issuance under the ESPP | 812,472 |  |  | 871,040 |  |  | 812,472 |  |  | 871,040 |  |  |
Schedule of Time-Vested Award Activity | The following table summarizes the Company’s award activity:
| Six Months Ended June 30, |  |  |  |
| 2025 |  | 2024 |  |
| Shares |  | Weighted Average Grant-Date Fair Value |  | Shares |  | Weighted Average Grant-Date Fair Value |  |  |  |
Nonvested RSAs, January 1, | 20,415 |  |  | $ | 33.06 |  |  | 17,629 |  |  | $ | 29.33 |  |  |  |  |
Granted RSAs | 14,760 |  |  | 33.89 |  |  | 19,682 |  |  | 33.03 |  |  |  |  |
Vested RSAs | (20,415) |  |  | 33.06 |  |  | (17,629) |  |  | 29.33 |  |  |  |  |
Nonvested RSAs, June 30, | 14,760 |  |  | 33.89 |  |  | 19,682 |  |  | 33.03 |  |  |  |  |
Nonvested RSUs, January 1, | 352,002 |  |  | $ | 35.45 |  |  | 318,168 |  |  | $ | 37.69 |  |  |  |  |
Granted RSUs | 103,669 |  |  | 37.41 |  |  | 111,441 |  |  | 32.02 |  |  |  |  |
Vested RSUs | (85,387) |  |  | 35.07 |  |  | (48,600) |  |  | 37.40 |  |  |  |  |
Forfeited RSUs | (6,865) |  |  | 33.28 |  |  | (372) |  |  | 44.93 |  |  |  |  |
Nonvested RSUs, June 30, | 363,419 |  |  | 36.14 |  |  | 380,637 |  |  | 36.06 |  |  |  |  |
Nonvested PSUs, January 1, | 265,197 |  |  | $ | 32.07 |  |  | 197,842 |  |  | $ | 28.33 |  |  |  |  |
Granted PSUs | 55,650 |  |  | 39.50 |  |  | 67,355 |  |  | 33.03 |  |  |  |  |
Vested PSUs | (17,191) |  |  | 44.77 |  |  | — |  |  | — |  |  |  |  |
Incremental forfeited PSUs(1) | (9,738) |  |  | 44.77 |  |  | — |  |  | — |  |  |  |  |
Nonvested PSUs, June 30, | 293,918 |  |  | 32.31 |  |  | 265,197 |  |  | 32.07 |  |  |  |  |
____________________________ (1)Represents forfeited incremental PSU shares due to the measurement of performance metrics.
Schedule of Share-Based Compensation Cost Charged to Income | Share-based compensation cost charged to income for the three and six months ended June 30, 2025, and 2024, is presented below. There was no stock option expense for any of the periods shown.
| Three Months Ended June 30, |  | Six Months Ended June 30,
(Dollars in thousands) | 2025 |  | 2024 |  | 2025 |  | 2024 |  |
RSA & RSU | $ | 1,186 |  |  | $ | 1,157 |  |  | $ | 2,349 |  |  | $ | 2,215 |  |  |
PSU | 750 |  |  | 412 |  |  | 1,289 |  |  | 1,327 |  |  |
ESPP | 131 |  |  | 119 |  |  | 244 |  |  | 225 |  |  |
Total stock compensation expense | $ | 2,067 |  |  | $ | 1,688 |  |  | $ | 3,882 |  |  | $ | 3,767 |  |  |
Related tax benefits recognized in net income | $ | 434 |  |  | $ | 354 |  |  | $ | 815 |  |  | $ | 791 |  |  |
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
Six Months Ended June 30, 2025 |  |  |  |  |  |  |
Outstanding at January 1, 2025 | 225,834 |  |  | $ | 32.24 |  |  | 3.72 |  | $ | 614 |
Exercised | (20,657) |  |  | 28.99 |  |  | — |  |  | 166 |
Expired and forfeited | (1,324) |  |  | 37.39 |  |  | — |  |  | — |
Outstanding and exercisable at June 30, 2025 | 203,853 |  |  | 32.54 |  |  | 3.29 |  | 786 |
Six Months Ended June 30, 2024 |  |  |  |  |  |  |
Outstanding at January 1, 2024 | 353,473 |  |  | $ | 31.49 |  |  | 4.46 |  | $ | 1,670 |
Exercised | (11,582) |  |  | 18.39 |  |  | — |  |  | 151 |
Expired and forfeited | (7,116) |  |  | 35.48 |  |  | — |  |  | — |
Outstanding and exercisable at June 30, 2024 | 334,775 |  |  | 31.86 |  |  | 3.15 |  | 774 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock shares. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Subparagraph (c) -Paragraph 2 -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_NonvestedRestrictedStockSharesActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of employee stock purchase plan activity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 50 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718-50/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (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://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 50 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718-50/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration