SHARE-BASED PAYMENTS (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Summary of Share and Expense Activity |
The following tables summarize the share and expense activity for the directors for the years ended December 31, 2025, and 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
|
|
Stock Options |
|
|
Restricted Stock Units |
|
|
Restricted Stock Awards |
|
|
Total |
|
|
Stock Options |
|
|
Restricted Stock Units |
|
|
Restricted Stock Awards |
|
|
Total |
|
Outstanding at beginning of year |
|
|
32,131 |
|
|
|
— |
|
|
|
7,768 |
|
|
|
39,899 |
|
|
|
56,339 |
|
|
|
— |
|
|
|
15,400 |
|
|
|
71,739 |
|
Granted |
|
|
3,803 |
|
|
|
— |
|
|
|
9,700 |
|
|
|
13,503 |
|
|
|
9,838 |
|
|
|
— |
|
|
|
7,768 |
|
|
|
17,606 |
|
Vested |
|
|
— |
|
|
|
— |
|
|
|
(7,768 |
) |
|
|
(7,768 |
) |
|
|
— |
|
|
|
— |
|
|
|
(15,400 |
) |
|
|
(15,400 |
) |
Exercised |
|
|
(6,221 |
) |
|
|
— |
|
|
|
— |
|
|
|
(6,221 |
) |
|
|
(34,046 |
) |
|
|
— |
|
|
|
— |
|
|
|
(34,046 |
) |
Forfeited or expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding at end of year |
|
|
29,713 |
|
|
|
— |
|
|
|
9,700 |
|
|
|
39,413 |
|
|
|
32,131 |
|
|
|
— |
|
|
|
7,768 |
|
|
|
39,899 |
|
Fully vested and expected to vest |
|
|
29,713 |
|
|
|
— |
|
|
|
— |
|
|
|
29,713 |
|
|
|
32,131 |
|
|
|
— |
|
|
|
— |
|
|
|
32,131 |
|
Exercisable at end of year |
|
|
25,910 |
|
|
|
— |
|
|
|
— |
|
|
|
25,910 |
|
|
|
22,293 |
|
|
|
— |
|
|
|
— |
|
|
|
22,293 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
|
|
Stock Options Expense |
|
|
Restricted Stock Units Expense |
|
|
Restricted Stock Awards Expense |
|
|
Total |
|
|
Stock Options Expense |
|
|
Restricted Stock Units Expense |
|
|
Restricted Stock Awards Expense |
|
|
Total |
|
Granted |
|
$ |
40 |
|
|
$ |
— |
|
|
$ |
247 |
|
|
$ |
287 |
|
|
$ |
94 |
|
|
$ |
— |
|
|
$ |
175 |
|
|
$ |
269 |
|
Vested |
|
|
46 |
|
|
|
— |
|
|
|
86 |
|
|
|
132 |
|
|
|
— |
|
|
|
— |
|
|
|
112 |
|
|
|
112 |
|
Forfeited or expired |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Outstanding at end of year |
|
$ |
86 |
|
|
$ |
— |
|
|
$ |
333 |
|
|
$ |
419 |
|
|
$ |
94 |
|
|
$ |
— |
|
|
$ |
287 |
|
|
$ |
381 |
|
|
| Summary of Stock Option Activity |
The following tables summarize stock option activity for the years ended December 31, 2025 and 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Options |
|
|
Weighted
Average
Exercise
Price |
|
|
Weighted
Average
Remaining
Contractual
Term
(Years) |
|
|
Aggregate
Intrinsic
Value |
|
Outstanding at beginning of year |
|
|
495,180 |
|
|
$ |
30.07 |
|
|
|
9 |
|
|
$ |
6,101 |
|
Granted |
|
|
23,743 |
|
|
|
43.02 |
|
|
|
9 |
|
|
|
39 |
|
Exercised |
|
|
(12,471 |
) |
|
|
25.35 |
|
|
|
— |
|
|
|
(241 |
) |
Forfeited or expired |
|
|
(48,319 |
) |
|
|
31.32 |
|
|
|
8 |
|
|
|
(644 |
) |
Outstanding at end of year |
|
|
458,133 |
|
|
$ |
30.74 |
|
|
|
7 |
|
|
$ |
6,373 |
|
Fully vested and expected to vest |
|
|
458,133 |
|
|
$ |
30.74 |
|
|
|
7 |
|
|
$ |
6,373 |
|
Exercisable at end of year |
|
|
182,612 |
|
|
$ |
30.68 |
|
|
|
5 |
|
|
$ |
2,551 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Options |
|
|
Weighted
Average
Exercise
Price |
|
|
Weighted
Average
Remaining
Contractual
Term
(Years) |
|
|
Aggregate
Intrinsic
Value |
|
Outstanding at beginning of year |
|
|
376,446 |
|
|
$ |
26.71 |
|
|
|
5 |
|
|
$ |
2,780 |
|
Granted |
|
|
307,872 |
|
|
|
31.48 |
|
|
|
9 |
|
|
|
3,068 |
|
Exercised |
|
|
(147,777 |
) |
|
|
23.73 |
|
|
|
1 |
|
|
|
(2,762 |
) |
Forfeited or expired |
|
|
(41,361 |
) |
|
|
32.68 |
|
|
|
8 |
|
|
|
(403 |
) |
Outstanding at end of year |
|
|
495,180 |
|
|
$ |
30.07 |
|
|
|
9 |
|
|
$ |
6,101 |
|
Fully vested and expected to vest |
|
|
495,180 |
|
|
$ |
30.07 |
|
|
|
9 |
|
|
$ |
6,101 |
|
Exercisable at end of year |
|
|
148,768 |
|
|
$ |
30.37 |
|
|
|
8 |
|
|
$ |
1,793 |
|
|
| Schedule of Fair Values of Options Granted |
The fair values of options granted were determined using the following weighted-average assumptions as of grant dates.
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
Risk free rate |
|
|
4.29 |
% |
|
|
4.28 |
% |
Market value of stock on grant date |
|
$ |
43.02 |
|
|
$ |
31.48 |
|
Expected term (in years) |
|
|
5.7 |
|
|
|
7.1 |
|
Expected volatility |
|
|
37.34 |
% |
|
|
34.31 |
% |
Dividend rate |
|
|
1.28 |
% |
|
|
1.29 |
% |
|
| Summary of Offering Periods and Costs |
The following table presents the offering periods and costs associated with this program.
|
|
|
|
|
|
|
|
|
|
|
|
|
Offering Period |
|
Shares Purchased |
|
|
Cost Per Share |
|
|
Compensation Expense |
|
August 15, 2022 to February 14, 2023 |
|
|
17,058 |
|
|
|
26.18 |
|
|
|
81 |
|
February 15, 2023 to August 14, 2023 |
|
|
14,548 |
|
|
|
22.34 |
|
|
|
57 |
|
August 15, 2023 to February 14, 2024 |
|
|
16,884 |
|
|
|
21.79 |
|
|
|
65 |
|
February 15, 2024 to August 14, 2024 |
|
|
12,581 |
|
|
|
28.52 |
|
|
|
63 |
|
August 15, 2024 to February 14, 2025 |
|
|
13,921 |
|
|
|
32.05 |
|
|
|
79 |
|
February 15, 2025 to August 14, 2025 |
|
|
12,940 |
|
|
|
33.69 |
|
|
|
77 |
|
|
| Restricted Stock Units [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Summary of Changes in Company's Non-vested RSUs/RSAs |
A summary of changes in the Company’s non-vested RSUs is shown below.
|
|
|
|
|
|
|
|
|
Non-vested Restricted Stock Units |
|
Shares |
|
|
Weighted
Average
Grant Date Fair Value |
|
Non-vested RSUs at January 1, 2025 |
|
|
277,563 |
|
|
$ |
30.95 |
|
Granted |
|
|
185,685 |
|
|
|
42.69 |
|
Vested |
|
|
(103,816 |
) |
|
|
31.45 |
|
Forfeited |
|
|
(23,521 |
) |
|
|
36.75 |
|
Outstanding at December 31, 2025 |
|
|
335,911 |
|
|
$ |
36.88 |
|
|
|
|
|
|
|
|
Non-vested Restricted Stock Units |
|
Shares |
|
|
Weighted
Average
Grant Date Fair Value |
|
Non-vested RSUs at January 1, 2024 |
|
|
267,975 |
|
|
$ |
26.19 |
|
Granted |
|
|
148,954 |
|
|
|
32.87 |
|
Vested |
|
|
(94,298 |
) |
|
|
26.25 |
|
Forfeited |
|
|
(45,068 |
) |
|
|
29.86 |
|
Outstanding at December 31, 2024 |
|
|
277,563 |
|
|
$ |
30.95 |
|
|
| Restricted Stock Awards [Member] |
|
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Summary of Changes in Company's Non-vested RSUs/RSAs |
A summary of changes in the Company's non-vested RSAs is shown below.
|
|
|
|
|
|
|
|
|
Non-vested Restricted Stock Awards |
|
Shares |
|
|
Weighted
Average
Grant Date Fair Value |
|
Non-vested RSAs at January 1, 2025 |
|
|
7,768 |
|
|
$ |
33.49 |
|
Granted |
|
|
9,700 |
|
|
|
38.50 |
|
Vested |
|
|
(7,768 |
) |
|
|
33.49 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
Outstanding at December 31, 2025 |
|
|
9,700 |
|
|
$ |
38.50 |
|
|
|
|
|
|
|
|
Non-vested Restricted Stock Awards |
|
Shares |
|
|
Weighted
Average
Grant Date Fair Value |
|
Non-vested RSAs at January 1, 2024 |
|
|
15,400 |
|
|
$ |
21.44 |
|
Granted |
|
|
7,768 |
|
|
|
33.49 |
|
Vested |
|
|
(15,400 |
) |
|
|
21.44 |
|
Forfeited |
|
|
— |
|
|
|
— |
|
Outstanding at December 31, 2024 |
|
|
7,768 |
|
|
$ |
33.49 |
|
|