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Employee Benefits and Stock Compensation (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Compensation
The impact of share-based compensation on the Company’s financial results is presented below:
For the Year Ended December 31,
(In thousands)202220212020
Share-based compensation expense1
$11,155 $8,685 $7,304 
Income tax benefit(2,827)(2,067)(1,737)
1 Excludes $10.4 million in 2022 and $4.7 million in 2021 associated with replacement awards granted in bank acquisitions.
Schedule of Unrecognized Compensation Cost, Nonvested Awards The total unrecognized compensation cost and the weighted-average period over which unrecognized compensation cost is expected to be recognized related to non-vested share-based compensation arrangements at December 31, 2022 is presented below:
(In thousands)Unrecognized
Compensation
Cost
Weighted-Average Period Remaining (Years)
Restricted stock awards$11,834 1.80
Restricted stock units3,977 1.98
Stock options— — 
Total$15,811 1.85
Schedule of Nonvested Share Activity
A summary of the status of the Company’s non-vested RSAs as of December 31, 2022, and changes during the year then ended, is presented below:
Restricted
Award
Shares
Weighted-Average Grant-Date Fair Value
Non-vested at January 1, 2022398,704 $26.68 
Granted422,745 33.08 
Forfeited/Canceled(34,387)29.88 
Vested(253,787)27.28 
Non-vested at December 31, 2022533,275 $31.26 
A summary of the status of the Company’s non-vested RSUs as of December 31, 2022, and changes during the year then ended, is presented below:
Restricted
Award
Shares
Weighted-Average Grant-Date Fair Value
Non-vested at January 1, 2022285,221 $26.71 
Granted121,025 34.11 
Forfeited/Canceled(20,824)26.29 
Vested(75,388)30.57 
Non-vested at December 31, 2022310,034 $28.69 
Schedule of Restricted Stock and Restricted Stock Units Activity
Information regarding restricted stock awards during each of the following years is presented below:
For the Year Ended December 31,
202220212020
Shares granted422,745 218,695 379,869 
Weighted-average grant date fair value$33.08 $35.08 $18.36 
Fair value of awards vested1
$6,923 $4,731 $3,745 
1Based on grant date fair value, in thousands.
Information regarding restricted stock units during each of the following years is presented below:
For the Year Ended December 31,
202220212020
Shares granted121,025 103,073 171,287 
Weighted-average grant date fair value$34.11 $35.24 $17.29 
Fair value of awards vested1
$2,305 $1,936 $2,962 
1Based on grant date fair value, in thousands.
Schedule of Stock Option Valuation Assumptions
For the Year Ended December 31,
 202220212020
Risk-free interest rates2.21 %0.12 %n/a
Expected dividend yield1.95 %1.65 %n/a
Expected volatility32.09 %36.87 %n/a
Expected lives (years)1.01.0n/a
Schedule of Stock Options Roll Forward
A summary of the Company’s stock options as of December 31, 2022, and changes during the year then ended, is presented below:
 OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (Years)Aggregate
Intrinsic
Value
(000s)
Outstanding at January 1, 2022810,180 $22.02 
Granted553,803 14.28 
Exercised(522,126)13.05 
Forfeited(4,235)30.16 
Outstanding at December 31, 2022837,622 $21.72 3.25$7,936 
Exercisable at December 31, 2022837,622 $21.72 3.25$7,936 
Schedule of Stock Option Activity
The following table presents information related to stock options during each of the following years:
For the Year Ended December 31,
202220212020
Options granted553,803 356,497 n/a
Weighted-average grant date fair value$14.28 $16.70 n/a
Intrinsic value of stock options exercised, in thousands8,860 5,808 830 
Schedule of Options Outstanding and Remaining Contractual Life of Stock Options
The following table presents information related to stock options as of December 31, 2022: 
Range of Exercise PricesOptions
Outstanding
Remaining
Contractual
Life (Years)
Options
Exercisable
Weighted
Average
Exercise
Price
$5.88 to $14.82
323,241 1.40323,241 $11.83 
$15.80 to $28.69
332,939 4.19332,939 26.19 
$29.38 to $35.78
181,442 4.83181,442 31.15 
Total837,622 3.25837,622 $21.72 
Schedule of Employee Stock Purchase Plan Activity Employee contributions to the ESPP are made through payroll deductions. 
 202220212020
ESPP shares purchased20,972 14,834 19,713 
Weighted-average employee purchase price$30.76 $32.43 $20.68