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Share-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2025
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 December 31, 2024134,202 $57.67 
Granted96,132 56.79 
Vested(33,853)52.25 
Forfeited(8,102)55.58 
Non-vested at June 30, 2025188,379 $58.88 
Schedule of Employee Stock Purchase Plan The following table presents information for the 2023 ESPP for the six months ended June 30, 2025:
June 30, 2025
Shares purchased7,020
Weighted average price of shares purchased$53.01 
Compensation expense recognized (in 000's)$91.5 
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 SAR
2021 SAR
2023 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 six months ended June 30, 2025, is as follows:
Weighted Average
Dollars in thousands, expect per share information
SARs
Aggregate Intrinsic Value
Remaining Contractual Term (Yrs.)Exercise Price
Outstanding, December 31, 2024223,873$2,862 5.44$46.87 
Granted (or acquired)— — 
Exercised30,807696 36.14 
Forfeited— — 
Expired— — 
Outstanding, June 30, 2025193,066$2,166 5.34$48.51 
Exercisable SARs:
 At June 30, 2025158,987$1,793 5.01$48.46