Stock and Incentive Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Black-Scholes Option Pricing Model

The table below includes the weighted-average assumptions used to calculate the grant date fair value of the ESPP rights for the periods indicated using the Black-Scholes option pricing model:

	Three Months Ended March 31,
	2024			2023
Expected term (in years)	1.00			1.00
Dividend yield	$	2.08		$	1.52
Risk-free interest rate	4.94		%	2.00		%
Expected volatility	31.12			32.56

Schedule of ESPP Shares Purchased

The ESPP shares purchased are as follows for the dates indicated:

	Three Months Ended March 31,
	2024	2023
ESPP shares purchased	—	—
Shares available for issuance under the ESPP	927,698	973,911

Schedule of Share-Based Compensation Cost Charged to Income

Share-based compensation cost charged to income for the years ended March 31, 2024 and 2023, is presented below. There was no stock option expense for any of the periods shown.

	Three Months Ended March 31,
(Dollars in thousands)	2024		2023
RSA & RSU	$	1,058	$	1,022
PSU	915		293
ESPP	106		76
Total stock compensation expense	$	2,079	$	1,391
Related tax benefits recognized in net income	$	437	$	292

Schedule of Time-Vested Award Activity

The following table summarizes the Company’s award activity:

	Three Months Ended March 31,
	2024			2023
	Shares	Weighted Average Grant-Date Fair Value		Shares	Weighted Average Grant-Date Fair Value
Nonvested RSAs, January 1,	17,629	$	29.33	27,391	$	35.27
Vested RSAs	—	—		(12,840)	37.39
Nonvested RSAs, March 31,	17,629	29.33		14,551	33.59
Nonvested RSUs, January 1,	318,168	$	37.69	270,390	$	39.63
Granted RSUs	8,761	30.43		65,842	40.69
Vested RSUs	(28,088)	41.77		(12,005)	44.77
Forfeited RSUs	—	—		(1,357)	41.41
Nonvested RSUs, March 31,	298,841	37.09		322,870	39.65
Nonvested PSUs, January 1,	197,842	$	28.33	157,367	$	29.06
Granted PSUs	—	—		43,591	37.91
Forfeited PSUs	—	—		(1,592)	37.91
Nonvested PSUs, March 31,	197,842	31.74		199,366	30.50

Schedule of Stock Option Activity

The table below summarizes the status of the Company’s stock options and changes during the three months ended March 31, 2024 and 2023.

(Dollars in thousands, except per share amounts)	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value
Three Months Ended March 31, 2024
Outstanding at January 1, 2024	353,473	$	31.49	4.46	$	1,670
Exercised	(7,941)	16.66		—	130
Expired	(2,151)	37.18		—	—
Outstanding and exercisable at March 31, 2024	343,381	31.79		4.04	771
Three Months Ended March 31, 2023
Outstanding at January 1, 2023	504,437	$	29.46	5.13	$	3,736
Exercised	(27,282)	15.62		—	587
Expired	(331)	37.76		—	—
Outstanding and exercisable at March 31, 2023	476,824	30.24		5.00	1,728