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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Time Vested Restricted Stock | For awards that are time vested, the shares typically vest over a period of one to three years beginning on the first anniversary of the date of grant. In the year ended December 31, 2024, the Company awarded the following time vested restricted stock to senior officers, directors and certain employees:
|  | December 31, 2024
Date of award |  | Number of shares |  | Number of Officers, Directors and Employees
February 2024 |  | 275,896 |  |  | 130
August 2024 |  | 4,290 |  |  | 2
September 2024 |  | 8,756 |  |  | 2
October 2024 |  | 20,483 |  |  | 1 |
November 2024 |  | 2,254 |  |  | 1 |
December 2024 |  | 689 |  |  | 1 |
Schedule of Unvested Restricted Stock Awards | The following table summarizes the unvested restricted stock awards for performance for the years ended December 31, 2024, 2023 and 2022:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Performance Awards |  | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value
Unvested at beginning |  | 123,215 |  |  | $ | 44.74 |  |  | 129,855 |  |  | $ | 45.15 |  |  | 118,568 |  |  | $ | 44.71 |
Granted |  | 150,570 |  |  | 18.47 |  |  | 71,003 |  |  | 40.50 |  |  | 37,775 |  |  | 53.97 |
Forfeited |  | (28,826) |  |  | 40.96 |  |  | (44,084) |  |  | 40.29 |  |  | (1,966) |  |  | 55.76 |
Vested |  | (18,480) |  |  | 47.57 |  |  | (33,559) |  |  | 44.60 |  |  | (24,522) |  |  | 55.76 |
Unvested at end |  | 226,479 |  |  | $ | 27.53 |  |  | 123,215 |  |  | $ | 44.74 |  |  | 129,855 |  |  | $ | 45.15 |
The following table summarizes the unvested time vesting restricted stock awards for the years ended December 31, 2024, 2023 and 2022:
|  | Years Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Time Vested Awards |  | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value |  | Shares |  | Weighted- Average Grant Date Fair Value
Unvested at beginning |  | 313,992 |  |  | $ | 49.08 |  |  | 302,148 |  |  | $ | 53.75 |  |  | 300,792 |  |  | $ | 46.24 |
Granted |  | 312,368 |  |  | 23.22 |  |  | 190,256 |  |  | 44.16 |  |  | 166,471 |  |  | 59.72 |
Forfeited |  | (38,772) |  |  | 36.18 |  |  | (27,558) |  |  | 51.57 |  |  | (12,064) |  |  | 53.10 |
Vested |  | (157,283) |  |  | 49.41 |  |  | (150,854) |  |  | 51.76 |  |  | (153,051) |  |  | 45.54 |
Unvested at end |  | 430,305 |  |  | $ | 31.35 |  |  | 313,992 |  |  | $ | 49.08 |  |  | 302,148 |  |  | $ | 53.75 |
Schedule of Activity of Stock Options | Below is a summary of stock option activity for the years ended December 31, 2024, 2023 and 2022. The information excludes restricted stock units and awards.
| Years Ended December 31,
| 2024 |  | 2023 |  | 2022
| Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price |  | Shares |  | Weighted- Average Exercise Price
Beginning balance | 2,500 |  |  | $ | 47.95 |  |  | 2,500 |  |  | $ | 47.95 |  |  | 5,789 |  |  | $ | 36.96 |
Granted | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised | — |  |  | — |  |  | — |  |  | — |  |  | (3,289) |  |  | 28.60 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ending balance | 2,500 |  |  | $ | 47.95 |  |  | 2,500 |  |  | $ | 47.95 |  |  | 2,500 |  |  | $ | 47.95 |
Exercisable end of year | 2,500 |  |  | $ | 47.95 |  |  | 2,500 |  |  | $ | 47.95 |  |  | 1,666 |  |  | $ | 47.95 |
Schedule of Cash Proceeds, Tax Benefits and Intrinsic Value Related to Total Stock Options Exercised | Cash proceeds, tax benefits and intrinsic value related to total stock options exercised is as follows:
|  | Years Ended December 31,
(dollars in thousands) |  | 2024 |  | 2023 |  | 2022
Proceeds from stock options exercised |  | $ | — |  |  | $ | — |  |  | $ | 97 |
Tax benefits realized from stock compensation |  | — |  |  | — |  |  | 3 |
Intrinsic value of stock options exercised |  | — |  |  | — |  |  | 98 |

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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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