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Equity Compensation and Employee Benefit Plans (Tables)
12 Months Ended
Dec. 31, 2020
Employee Benefit and Share-based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of Equity Compensation Expense and Related Income Tax Benefit Recognized The following table summarizes the equity compensation expense and related income tax benefit recognized in the Consolidated Statements of Income (in thousands):
 Years Ended December 31,
 202020192018
Restricted awards:
Pre-tax compensation expense$5,409 $4,943 $4,143 
Tax benefit1,379 1,258 1,056 
Restricted stock expense, net of tax$4,030 $3,685 $3,087 
Performance awards:
Pre-tax compensation expense$3,503 $3,156 $3,152 
Tax benefit893 803 804 
Performance award expense, net of tax$2,610 $2,353 $2,348 
Schedule of Equity Compensation, Restricted Award Activity The following table summarizes restricted award activity for the year ended December 31, 2020:
Number of
Restricted
Awards (in
thousands)
Weighted
Average Grant
Date Fair
Value ($)
Nonvested at beginning of period369 $32.83 
Granted181 38.73 
Vested(137)31.83 
Forfeited(46)35.43 
Nonvested at end of period367 35.78 
Schedule of Equity Compensation Performance Award Activity The following table summarizes performance award activity for the year ended December 31, 2020:
Number of
Performance Awards (in
thousands)
Weighted
Average Grant
Date Fair
Value ($)
Nonvested at beginning of period327 $28.75 
Granted133 32.96 
Vested(151)23.61 
Forfeited(47)32.95 
Nonvested at end of period262 32.96 
Contributions for Employee Stock Purchase Plan Our contributions for the Purchase Plan were as follows (in thousands):
2020$283 
2019265 
2018239 
Contributions and Administrative Expenses Under 401(k) Retirement Savings Plan Salaries, wages and benefits expense in the accompanying Consolidated Statements of Income includes our 401(k) Plan contributions and administrative expenses, which were as follows (in thousands): 
2020$4,748 
20194,414 
20182,615 
Deferred Compensation Assets and Liabilities
The accumulated benefit obligation and aggregate market value of the life insurance policies were as follows (in thousands):
 December 31,
 20202019
Accumulated benefit obligation$11,321 $9,588 
Aggregate market value9,104 8,284