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Stock-Based Compensation Plans (Tables)

12 Months Ended

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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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
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Tabular disclosure of the changes in outstanding nonvested shares.

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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.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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