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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Stock Option Activity | Stock option activity for the year ended December 31, 2021 was as follows:
(Dollars in thousands, except per option data) |  | Number of Options |  | Weighted-Average Exercise Price per Option |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value
Options outstanding at January 1, 2021 |  | 10,513 |  |  | $ | 25.29 |  |  |  |  |
Granted |  | — |  |  | — |  |  |  |  |
Exercised |  | (7,113) |  |  | 24.91 |  |  |  |  |
Forfeited |  | (400) |  |  | 42.44 |  |  |  |  |
Expired |  | — |  |  | — |  |  |  |  |
Options outstanding at December 31, 2021 |  | 3,000 |  |  | $ | 23.89 |  |  | 2.5 |  | $ | 73 |
Options exercisable at December 31, 2021 |  | 3,000 |  |  | $ | 23.89 |  |  | 2.5 |  | $ | 73 |
A summary of the status of the Company’s nonvested stock options as of December 31, 2021 and changes during the year then ended was as follows:
| Options |  | Weighted-Average Grant Date Fair Value per Option
Nonvested at January 1, 2021 | 900 |  |  | $ | 6.89 |
Granted | — |  |  | — |
Vested | (500) |  |  | 6.18 |
Forfeited | (400) |  |  | 7.78 |
Nonvested at December 31, 2021 | — |  |  | $ | — |
Schedule of Compensation Expense | The expense and the related income tax benefit recognized in connection with the restricted stock units was as follows for the periods indicated:
|  | For the Year Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Expense |  | $ | 610 |  |  | $ | 475 |  |  | $ | 389 |
Income tax benefit |  | 131 |  |  | 102 |  |  | 84 |
Fair value of grants vested |  | 506 |  |  | 407 |  |  | 302 |
The expense and the related income tax benefit recognized in connection with the restricted stock awards was as follows for the periods indicated:
|  | For the Year Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Expense |  | $ | 895 |  |  | $ | 781 |  |  | $ | 751 |
Income tax benefit |  | 192 |  |  | 168 |  |  | 161 |
Fair value of grants vested |  | 901 |  |  | 772 |  |  | 780 |
The expense and the related income tax benefit recognized in connection with the MSPP awards was as follows for the periods indicated:
|  | For the Year Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Expense |  | $ | 104 |  |  | $ | 71 |  |  | $ | 95 |
Income tax benefit |  | 22 |  |  | 15 |  |  | 20 |
Fair value of grants vested |  | 70 |  |  | 110 |  |  | 75 |
The expense and the related tax benefit for the LTIP's performance-based share units was as follows for the periods indicated:
|  | For the Year Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Expense |  | $ | 637 |  |  | $ | 332 |  |  | $ | 532 |
Related income tax benefit |  | 137 |  |  | 71 |  |  | 114 |
Fair value of grants vested |  | 435 |  |  | — |  |  | 344 |
Compensation expense and the related tax benefit recognized in connection with the DCRP was as follows for the periods presented:
|  | For the Year Ended December 31,
(In thousands) |  | 2021 |  | 2020 |  | 2019
Expense |  | $ | 135 |  |  | $ | 122 |  |  | $ | 110 |
Related income tax benefit |  | 29 |  |  | 26 |  |  | 24 |
Fair value of grants vested |  | 118 |  |  | 129 |  |  | 102 |
Summary of Nonvested Share Awards Activity | Restricted stock unit activity for the year ended December 31, 2021 was as follows:
(Dollars in thousands, except per unit data) |  | Number of Units |  | Weighted-Average Grant Date Fair Value per Unit |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value |  | Unrecognized Compensation
Nonvested at January 1, 2021 |  | 46,367 |  |  | $ | 37.80 |  |  |  |  |  |  |
Granted |  | 20,689 |  |  | 48.05 |  |  |  |  |  |  |
Vested |  | (12,818) |  |  | 39.49 |  |  |  |  |  |  |
Forfeited |  | (4,653) |  |  | 42.10 |  |  |  |  |  |  |
Nonvested at December 31, 2021 |  | 49,585 |  |  | $ | 41.23 |  |  | 3.1 |  | $ | 2,388 |  |  | $ | 1,529 |
Restricted stock award activity, which includes awards issued to directors of the Company, for the year ended December 31, 2021 was as follows:
(Dollars in thousands, except per share data) |  | Number of Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value |  | Unrecognized Compensation
Nonvested at January 1, 2021 |  | 23,656 |  |  | $ | 34.96 |  |  |  |  |  |  |
Granted |  | 19,538 |  |  | 47.29 |  |  |  |  |  |  |
Vested |  | (21,706) |  |  | 41.52 |  |  |  |  |  |  |
Forfeited |  | (2,517) |  |  | 37.64 |  |  |  |  |  |  |
Nonvested at December 31, 2021 |  | 18,971 |  |  | $ | 39.80 |  |  | 1.6 |  | $ | 914 |  |  | $ | 459 |
MSPP award activity for the year ended December 31, 2021 was as follows:
(Dollars in thousands, except per share data) |  | Number of Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value |  | Unrecognized Compensation
Nonvested at January 1, 2021 |  | 17,024 |  |  | $ | 8.74 |  |  |  |  |  |  |
Granted |  | 9,619 |  |  | 16.35 |  |  |  |  |  |  |
Vested |  | (6,338) |  |  | 11.02 |  |  |  |  |  |  |
Forfeited |  | (1,414) |  |  | 11.46 |  |  |  |  |  |  |
Nonvested at December 31, 2021 |  | 18,891 |  |  | $ | 11.64 |  |  | 0.7 |  | $ | 356 |  |  | $ | 88 |
LTIP performance-based share unit activity for the year ended December 31, 2021 was as follows:
(Dollars in thousands, except per share data) |  | Number of Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value |  | Unrecognized Compensation
Nonvested at January 1, 2021 |  | 51,394 |  |  | $ | 37.07 |  |  |  |  |  |  |
Granted(1) |  | 17,822 |  |  | 46.95 |  |  |  |  |  |  |
Vested |  | (10,157) |  |  | 42.82 |  |  |  |  |  |  |
Forfeited |  | (7,479) |  |  | 38.32 |  |  |  |  |  |  |
Nonvested at December 31, 2021 |  | 51,580 |  |  | $ | 39.17 |  |  | 1.6 |  | $ | 2,020 |  |  | $ | 434 |
(1) Number of shares granted assumes payout at 200% of target. DCRP award activity for the year ended December 31, 2021 was as follows:
(Dollars in thousands, except per award data) |  | Number of Deferred Stock Awards |  | Weighted-Average Grant Date Fair Value per Award |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value |  | Unrecognized Compensation
Nonvested at January 1, 2021 |  | 5,372 |  |  | $ | 33.93 |  |  |  |  |  |  |
Granted |  | 5,167 |  |  | 47.75 |  |  |  |  |  |  |
Vested |  | (2,933) |  |  | 40.16 |  |  |  |  |  |  |
Forfeited |  | (600) |  |  | 47.75 |  |  |  |  |  |  |
Nonvested at December 31, 2021 |  | 7,006 |  |  | $ | 40.33 |  |  | 16.0 |  | $ | 337 |  |  | $ | 234 |

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