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Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Restricted Stock Activity

Restricted stock activity for the year ended December 31, 2023 and the six months ended June 30, 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)			—				—				27,614				34.76				63,577				29.90				91,191				31.37
Vested			(33,369	)			26.87				(34,139	)			25.43				(31,859	)			20.76				(99,367	)			24.42
Forfeited			(5,285	)			30.26				—				—				(4,275	)			36.29				(9,560	)			32.96
Nonvested balance as of June 30, 2024			33,297			$	29.92				49,630			$	42.24				84,430			$	35.77				167,357			$	36.52
Unrecognized compensation cost (in thousands)		$	744							$	1,343							$	2,670							$	4,757
Weighted average remaining recognition period (in years)			1.39								1.96								2.89								2.39

(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. During the six months ended June 30, 2024, an additional 10,589 were issued related to actual performance results of previously granted awards.

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 June 30,								For the Six Months Ended June 30,
		2024				2023				2024				2023
		(In Thousands)
Share-based compensation expense		$	624			$	1,072			$	1,289			$	1,706

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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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