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Share-Based Compensation (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Restricted Stock Activity

Restricted stock activity for the year ended December 31, 2024 and the nine months ended September 30, 2025 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, 2023

 

71,951

 

$28.53

 

56,155

 

$35.70

 

56,987

 

$33.97

 

185,093

 

$32.38

Granted (1)

 

 

 

27,614

 

34.76

 

65,717

 

30.43

 

93,331

 

31.71

Vested

 

(35,131)

 

26.86

 

(34,139)

 

25.43

 

(33,716)

 

21.25

 

(102,986)

 

24.57

Forfeited

 

(7,924)

 

29.75

 

 

 

(8,827)

 

36.25

 

(16,751)

 

33.18

Nonvested balance as of December 31, 2024

 

28,896

 

30.09

 

49,630

 

42.24

 

80,161

 

36.04

 

158,687

 

36.77

Granted (1)

 

 

 

12,195

 

63.61

 

44,169

 

51.20

 

56,364

 

53.83

Vested

 

(20,035)

 

28.64

 

(15,825)

 

42.70

 

(31,641)

 

37.54

 

(67,501)

 

37.20

Forfeited

 

(904)

 

33.60

 

 

 

(1,813)

 

40.61

 

(2,717)

 

40.02

Nonvested balance as of September 30, 2025

 

7,957

 

$33.74

 

46,000

 

$47.31

 

90,876

 

$42.91

 

144,833

 

$43.81

Unrecognized compensation cost (in thousands)

 

$112

 

 

 

$1,169

 

 

 

$3,052

 

 

 

$4,333

 

 

Weighted average remaining recognition period (in years)

 

0.61

 

 

 

1.81

 

 

 

2.19

 

 

 

2.14

 

 

(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 nine months ended September 30, 2025, an additional 13,427 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 September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

 

 

(In Thousands)

 

Share-based compensation expense

 

$

585

 

 

$

649

 

 

$

2,161

 

 

$

1,938