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