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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement, Noncash Expense [Abstract]

Summary of Option Activity

A summary of option activity as of December 31, 2022, 2021 and 2020, and changes during each year, is presented below:

		Shares				Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
		(In thousands)										(In thousands)
Outstanding at December 31, 2019			1,694			$	9.13			7.9 years		$	3,969
Granted			660				8.73
Exercised			—				—
Forfeited or expired			(458	)			9.05
Outstanding at December 31, 2020			1,896				9.01			7.4 years			114
Granted			—				—
Exercised			—				—
Forfeited or expired			(278	)			8.90
Outstanding at December 31, 2021			1,618				8.99			6.5 years			143
Granted			—				—
Exercised			—				—
Forfeited or expired			(76	)			9.16
Outstanding at December 31, 2022			1,542			$	8.98			5.5 years		$	7
Vested and Exercisable at December 31, 2022			1,394			$	9.02			5.3 years		$	7

Schedule of Weighted-Average Assumptions to Estimate Fair Value of Each Option

The fair value of each option was estimated on the date of grant using the Black-Scholes-Merton option-pricing formula, with the following weighted average assumptions. There were no stock options granted in 2021 or 2022:

	2020
Expected dividend yield		3.02	%
Expected volatility		35.48	%
Risk-free interest rate		1.38	%
Expected term of options	7 years

Nonvested Performance Shares

A summary of the status of the Company's nonvested performance shares as of December 31, 2022, 2021 and 2020, and changes during each year, is presented below:

		Shares				Weighted-Average Grant-Date Fair Value
Nonvested at December 31, 2019			973,779			$	8.38
Granted			1,616,902				8.01
Vested			(224,681	)			8.33
Forfeited or unearned			(1,466,729	)			8.10
Nonvested at December 31, 2020			899,271				8.19
Granted			935,825				8.38
Vested			(507,191	)			8.85
Forfeited or unearned			(151,514	)			6.52
Nonvested at December 31, 2021			1,176,391				8.25
Granted			939,980				7.11
Vested			(363,514	)			7.84
Forfeited or unearned			(514,767	)			8.20
Nonvested at December 31, 2022			1,238,090			$	7.52

Restricted Shares

A summary of the status of the Company's restricted shares of CRD-A as of December 31, 2022, 2021 and 2020 and changes during each year, is presented below:

		Shares				Weighted-Average Grant-Date Fair Value
Nonvested at December 31, 2019			81,608			$	8.35
Granted			117,279				8.34
Vested			(119,327	)			8.52
Forfeited or unearned			—				—
Nonvested at December 31, 2020			79,560				8.08
Granted			94,654				9.03
Vested			(138,635	)			8.91
Forfeited or unearned			(10,579	)			8.99
Nonvested at December 31, 2021			25,000				7.23
Granted			98,921				7.56
Vested			(123,921	)			7.49
Forfeited or unearned			—				—
Nonvested at December 31, 2022			—			$	—

X

- Definition

Tabular disclosure of the changes in outstanding nonvested performance-based units.

+ References

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-Topic 718
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-Section 50
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