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Stock-Based Compensation Plans (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
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) |  | 2024 |  | 2023 |  | 2022
Expense |  | $ | 1,043 |  |  | $ | 962 |  |  | $ | 724 |
Income tax benefit |  | $ | 219 |  |  | $ | 207 |  |  | $ | 156 |
Fair value of grants vested |  | $ | 798 |  |  | $ | 803 |  |  | $ | 622 |
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) |  | 2024 |  | 2023 |  | 2022
Expense |  | $ | 1,193 |  |  | $ | 1,225 |  |  | $ | 1,053 |
Income tax benefit |  | $ | 251 |  |  | $ | 263 |  |  | $ | 226 |
Fair value of grants vested |  | $ | 1,235 |  |  | $ | 1,187 |  |  | $ | 1,014 |
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) |  | 2024 |  | 2023 |  | 2022
Expense |  | $ | 50 |  |  | $ | 93 |  |  | $ | 124 |
Income tax benefit |  | $ | 11 |  |  | $ | 20 |  |  | $ | 27 |
Fair value of grants vested |  | $ | 109 |  |  | $ | 129 |  |  | $ | 87 |
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) |  | 2024 |  | 2023 |  | 2022
Expense |  | $ | 481 |  |  | $ | 332 |  |  | $ | 457 |
Related income tax benefit |  | $ | 101 |  |  | $ | 71 |  |  | $ | 98 |
Fair value of grants vested |  | $ | 458 |  |  | $ | 594 |  |  | $ | 548 |
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) |  | 2024 |  | 2023 |  | 2022
Expense |  | $ | 151 |  |  | $ | 188 |  |  | $ | 169 |
Related income tax benefit |  | $ | 32 |  |  | $ | 40 |  |  | $ | 36 |
Fair value of grants vested |  | $ | 163 |  |  | $ | 171 |  |  | $ | 174 |
Summary of Nonvested Share Awards Activity | Restricted stock unit activity for the year ended December 31, 2024 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, 2024 |  | 74,731 |  |  | $ | 40.58 |  |  |  |  |  |  |
Granted |  | 30,296 |  |  | 32.67 |  |  |  |  |  |  |
Vested |  | (19,330) |  |  | 41.28 |  |  |  |  |  |  |
Forfeited |  | (2,275) |  |  | 38.67 |  |  |  |  |  |  |
Nonvested at December 31, 2024 |  | 83,422 |  |  | $ | 37.60 |  |  | 2.68 |  | $ | 3,565 |  |  | $ | 2,131 |
Restricted stock award activity, which includes awards issued to directors of the Company, for the year ended December 31, 2024 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, 2024 |  | 28,534 |  |  | $ | 37.76 |  |  |  |  |  |  |
Granted |  | 37,923 |  |  | 32.35 |  |  |  |  |  |  |
Vested |  | (34,059) |  |  | 36.27 |  |  |  |  |  |  |
Forfeited |  | (501) |  |  | 32.30 |  |  |  |  |  |  |
Nonvested at December 31, 2024 |  | 31,897 |  |  | $ | 33.03 |  |  | 1.9 |  | $ | 1,363 |  |  | $ | 708 |
MSPP award activity for the year ended December 31, 2024 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, 2024 |  | 16,574 |  |  | $ | 11.10 |  |  |  |  |  |  |
Granted |  | 4,453 |  |  | 8.19 |  |  |  |  |  |  |
Vested |  | (8,999) |  |  | 12.15 |  |  |  |  |  |  |
Forfeited |  | (1,397) |  |  | 9.92 |  |  |  |  |  |  |
Nonvested at December 31, 2024 |  | 10,631 |  |  | $ | 9.15 |  |  | 0.6 |  | $ | 165 |  |  | $ | 27 |
LTIP performance-based share unit activity for the year ended December 31, 2024 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, 2024 |  | 73,082 |  |  | $ | 39.92 |  |  |  |  |  |  |
Granted(1) |  | 42,430 |  |  | 31.23 |  |  |  |  |  |  |
Vested |  | (9,764) |  |  | 30.50 |  |  |  |  |  |  |
Forfeited(2) |  | (13,564) |  |  | 39.87 |  |  |  |  |  |  |
Nonvested at December 31, 2024 |  | 92,184 |  |  | $ | 34.88 |  |  | 1.6 |  | $ | 3,215 |  |  | $ | 691 |
(1) Number of shares granted assumes payout at 200% of target. (2) Forfeited shares consists of 5,270 shares forfeited due to payout at less than 200% of target. DCRP award activity for the year ended December 31, 2024 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, 2024 |  | 11,160 |  |  | $ | 41.74 |  |  |  |  |  |  |
Granted |  | 7,322 |  |  | 31.24 |  |  |  |  |  |  |
Vested |  | (4,619) |  |  | 35.38 |  |  |  |  |  |  |
Forfeited |  | — |  |  | — |  |  |  |  |  |  |
Nonvested at December 31, 2024 |  | 13,863 |  |  | $ | 38.04 |  |  | 13.1 |  | $ | 614 |  |  | $ | 483 |

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