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Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Restricted Stock Activity

Restricted stock activity for the year ended December 31, 2023 and the three months ended March 31, 2024 was as follows:

						RSA						Weighted Average Grant Price						PRSU						Weighted Average Grant Price						RSU						Weighted Average Grant Price						Total						Weighted Average Grant Price
Nonvested balance as of December 31, 2022						133,317						$	27.95					57,435						$	32.89					6,105						$	25.92					196,857						$	29.32
Granted (1)						—						—						34,840						35.79						54,955						34.43						89,795						34.96
Vested						(56,931)						27.03						(36,120)						31.31						(3,253)						26.06						(96,304)						28.60
Forfeited						(4,435)						30.20						—						—						(820)						36.42						(5,255)						31.17
Nonvested balance as of December 31, 2023						71,951						28.53						56,155						35.70						56,987						33.97						185,093						32.38
Granted (1)						—						—						17,025						42.89						46,025						36.08						63,050						32.78
Vested						(32,211)						26.87						—						—						(13,264)						34.47						(45,475)						29.09
Forfeited						(5,085)						30.33						—						—						(3,875)						36.30						(8,960)						32.91
Nonvested balance as of March 31, 2024						34,655						$	29.81					73,180						$	37.37					85,873						$	34.92					193,708						$	34.93
Unrecognized compensation cost (in thousands)						$	911											$	1,559											$	2,709											$	5,179
Weighted average remaining recognition period (in years)						1.59												2.15												3.20												2.60

(1)The number of restricted shares/units shown includes the shares that would be granted if the target level of performance is achieved related to the PRSU. The number of shares actually issued may vary.

Share-based Payment Arrangement, Expensed and Capitalized, Amount

Share-based compensation expense related to restricted stock and ESPP included in the unaudited Consolidated Statements of Income was as follows:

						For the Three Months Ended March 31,
						2024						2023
						(In Thousands)
Share-based compensation expense						$	665					$	634

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- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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