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Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2022

Stock option activity for the year ended December 31, 2022 was as follows:


(Dollars in thousands, except per option data)	Number of Options	Weighted-Average Exercise Price per Option		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Options outstanding at January 1, 2022	3,000	$	23.89
Granted	—	—
Exercised	(3,000)	23.89
Forfeited	—	—
Expired	—	—
Options outstanding at December 31, 2022	—	$	—	—	$	—
Options exercisable at December 31, 2022	—	$	—	—	$	—

At December 31, 2022 there were no unvested or outstanding stock options.

The expense and the related income tax benefit recognized in connection with the restricted stock units was as follows for the periods indicated:

The expense and the related income tax benefit recognized in connection with the restricted stock awards was as follows for the periods indicated:

The expense and the related income tax benefit recognized in connection with the MSPP awards was as follows for the periods indicated:

The expense and the related tax benefit for the LTIP's performance-based share units was as follows for the periods indicated:

Compensation expense and the related tax benefit recognized in connection with the DCRP was as follows for the periods presented:

Restricted stock unit activity for the year ended December 31, 2022 was as follows:


(Dollars in thousands, except per unit data)	Number of Units	Weighted-Average Grant Date Fair Value per Unit		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value		Unrecognized Compensation
Nonvested at January 1, 2022	49,585	$	41.23
Granted	26,854	49.72
Vested	(15,002)	41.43
Forfeited	(3,615)	45.07
Nonvested at December 31, 2022	57,822	$	44.88	3.2	$	2,411	$	1,882

Restricted stock award activity, which includes awards issued to directors of the Company, for the year ended December 31, 2022 was as follows:


(Dollars in thousands, except per share data)	Number of Shares	Weighted-Average Grant Date Fair Value per Share		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value		Unrecognized Compensation
Nonvested at January 1, 2022	18,971	$	39.80
Granted	25,644	45.74
Vested	(24,079)	42.10
Forfeited	—	—
Nonvested at December 31, 2022	20,536	$	44.53	1.6	$	856	$	580

MSPP award activity for the year ended December 31, 2022 was as follows:


(Dollars in thousands, except per share data)	Number of Shares	Weighted-Average Grant Date Fair Value per Share		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value		Unrecognized Compensation
Nonvested at January 1, 2022	18,891	$	11.64
Granted	9,314	12.15
Vested	(10,796)	8.08
Forfeited	(225)	14.62
Nonvested at December 31, 2022	17,184	$	14.12	0.7	$	84	$	71

LTIP performance-based share unit activity for the year ended December 31, 2022 was as follows:


(Dollars in thousands, except per share data)	Number of Shares	Weighted-Average Grant Date Fair Value per Share		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value		Unrecognized Compensation
Nonvested at January 1, 2022	51,580	$	39.17
Granted(1)	23,600	46.96
Vested	(13,228)	41.46
Forfeited(2)	(766)	41.48
Nonvested at December 31, 2022	61,186	$	41.65	1.7	$	2,548	$	500

(1) Number of shares granted assumes payout at 200% of target.

(2) Forfeited shares consists of 766 shares forfeited due to payout at less than 200% of target

DCRP award activity for the year ended December 31, 2022 was as follows:


(Dollars in thousands, except per award data)	Number of Deferred Stock Awards	Weighted-Average Grant Date Fair Value per Award		Weighted-Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value		Unrecognized Compensation
Nonvested at January 1, 2022	7,006	$	40.33
Granted	5,377	49.66
Vested	(4,001)	43.40
Forfeited	—	—
Nonvested at December 31, 2022	8,382	$	44.85	14.0	$	349	$	332