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Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following is a summary of all the Company’s RSU awards issued under both the 2019 SIP and 2023 SIP:
Non-vested SharesSharesWeighted-Average Grant-Date Fair Value
Non-vested at January 1, 2024143,585 $51.21 
Granted100,665 55.71 
Vested(108,293)47.27 
Forfeited(1,755)58.61 
Non-vested at December 31, 2024134,202 $57.67 
Schedule of Employee Stock Purchase Plan
December 31, 2024
Shares purchased12,057
Weighted average price of shares purchased$44.93 
Compensation expense recognized (in 000's)179.3 
Schedule of Share-Based Payment Award, Stock Appreciation Rights, Valuation Assumptions
Upon completion of the Merger, the Company determined the fair value per SAR using the following assumptions:
2019 SAR2021 SAR2023 SAR
# of years to full vesting7 years7 years7 years
Fair value$14.89 $16.92 $14.56 
Risk-free interest rate4.51 %4.32 %4.14 %
Expected dividend yield3.95 %3.95 %3.95 %
Expected common stock volatility32.56 %32.56 %32.56 %
Expected contractual life (in years)
4.777.208.77
Schedule of Stock Appreciation Rights and Option Activity
A summary of SAR and option activity during the year ended December 31, 2024, is as follows:
Weighted Average
Dollars in thousands, except per share information
SARs
Aggregate Fair ValueRemaining Contractual Term (Yrs.)Exercise Price
Outstanding, December 31, 2023
$— $— 
Granted (or acquired)299,5564,996 5.6745.24 
Exercised70,0411,387 39.90 
Forfeited5,64286 47.96 
Expired— — 
Outstanding, December 31, 2024223,873$3,523 5.44$46.87 
Exercisable SARs:
At December 31, 2024183,9712,931 5.0446.39