XML 81 R47.htm IDEA: XBRL DOCUMENT
v3.22.4

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Summary of Stock-Based Compensation Expense | The amount that we recognized in stock-based compensation expense related to the issuance of stock options and RSUs is presented in the following table:
(Dollars in thousands) |  | 2022 |  | 2021 |  | 2020
Stock Options |  | $ | 501 |  |  | $ | 832 |  |  | $ | 950 |
RSUs |  | 2,299 |  |  | 1,802 |  |  | 1,403 |
Total stock-based compensation expense |  | $ | 2,800 |  |  | $ | 2,634 |  |  | $ | 2,353 |
Stock Option Activity | The following summarizes stock options as of and for the year ended December 31, 2022:
|  | 2022 |  |
|  | Number of Shares |  | Weighted-Average Exercise Price |  |  |  |
Outstanding at beginning of year |  | 1,114,200 |  |  | $ | 15.86 |  |  |  |  |
Granted |  | 14,350 |  |  | 39.15 |  |  |  |  |
Exercised |  | 160,527 |  |  | 12.99 |  |  |  |  |
Forfeited |  | 24,930 |  |  | 22.55 |  |  |  |  |
Expired |  | 550 |  |  | 14.71 |  |  |  |  |
Outstanding at end of year |  | 942,543 |  |  | $ | 16.53 |  |  |  |  |
Exercisable at end of year |  | 782,116 |  |  | $ | 15.36 |  |  |  |  |
Weighted-average fair value of options granted during 2022 |  |  |  | $ | 14.94 |  |  |  |  |
Weighted-average fair value of options granted during 2021 |  |  |  | $ | 10.61 |  |  |  |  |
Weighted-average fair value of options granted during 2020 |  |  |  | $ | 4.48 |  |  |  |  |
Schedule of Stock Option Valuation Assumptions | The fair value for the options was estimated at the grant date using a Black-Scholes option-pricing model with the following inputs:
|  | 2022 |  | 2021 |  | 2020
Average risk-free interest rates |  | 2.23 | % |  | 1.27 | % |  | 0.66 | %
Weighted-average life (years) |  | 7 |  | 7 |  | 7
Expected volatility |  | 41.2 | % |  | 41.2 | % |  | 30.9 | %
Expected dividend yield |  | 1.58 | % |  | 1.08 | % |  | 2.20 | %
Outstanding and Exercisable Options Information | The following summarizes information related to the total outstanding and exercisable stock options at December 31, 2022:
Options Outstanding |  | Options Exercisable
Total Options |  | Weighted-Average Exercise Price |  | Intrinsic Value (in millions) |  | Weighted-Average Remaining Life |  | Total Options |  | Weighted-Average Exercise Price |  | Intrinsic Value (in millions) |  | Weighted-Average Remaining Life
942,543 |  | $16.53 |  | $5.7 |  | 4.38 |  | 782,116 |  | $15.36 |  | $5.3 |  | 3.87
Summary of RSUs | A summary of the activity for our RSUs for the period indicated is presented in the following table:
|  | 2022 |  |
|  | Shares |  | Weighted-Average Grant Date Fair Value |  |  |  |
Balance at beginning of year |  | 241,906 |  |  | $ | 21.46 |  |  |  |  |
Granted |  | 95,723 |  |  | 38.04 |  |  |  |  |
Vested |  | (75,354) |  |  | 21.62 |  |  |  |  |
Forfeited |  | (14,718) |  |  | 26.16 |  |  |  |  |
Balance at end of year |  | 247,557 |  |  | $ | 26.39 |  |  |  |  |
Weighted-average fair value of RSUs granted during 2022 |  |  |  | $ | 38.04 |  |  |  |  |
Weighted-average fair value of RSUs granted during 2021 |  |  |  | $ | 40.95 |  |  |  |  |
Weighted-average fair value of RSUs granted during 2020 |  |  |  | $ | 13.08 |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration