STOCK PLANS AND EMPLOYEE STOCK OWNERSHIP PLAN (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
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| Share-Based Payment Arrangement [Abstract] |
|
| The Threshold, Target and Stretch metrics under the 2022 LTI Plan are as follows: |
The
Threshold, Target and Stretch metrics under the 2022 LTI Plan are as follows:
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| ROAE Metrics | |
| Performance Period Ending | |
| Threshold | | |
| Target | | |
| Stretch | | |
| Actual | |
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| December 31, 2022 | |
| 7.79 | % | |
| 8.20 | % | |
| 8.61 | % | |
| 11.85 | % |
| December 31, 2023 | |
| 7.93 | % | |
| 8.35 | % | |
| 8.77 | % | |
| 6.47 | % |
| December 31, 2024 | |
| 8.03 | % | |
| 8.45 | % | |
| 8.87 | % | |
| 4.93 | % |
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| EPS Metrics | |
| Performance Period Ending | |
| Threshold | | |
| Target | | |
| Stretch | | |
| Actual | |
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| Three-Year Cumulative Diluted EPS | |
$ | 2.35 | | |
$ | 2.61 | | |
$ | 2.85 | | |
$ | 2.44 | |
|
| The Threshold, Target and Stretch metrics under the 2023 LTI Plan are as follows: |
The
Threshold, Target and Stretch metrics under the 2023 LTI Plan are as follows:
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| | |
| | |
| ROAE Metrics | |
| Performance Period Ending | |
| Threshold | | |
| Target | | |
| Stretch | |
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| December 31, 2023 | |
| 8.00 | % | |
| 8.45 | % | |
| 8.85 | % |
| December 31, 2024 | |
| 8.75 | % | |
| 9.25 | % | |
| 9.75 | % |
| December 31, 2025 | |
| 9.00 | % | |
| 9.50 | % | |
| 10.00 | % |
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| EPS Metrics | |
| Performance Period Ending | |
| Threshold | | |
| Target | | |
| Stretch | |
| | |
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| | | |
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| Three-Year Cumulative Diluted EPS | |
$ | 2.39 | | |
$ | 2.65 | | |
$ | 2.89 | |
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|
| The Threshold, Target and Stretch metrics under the 2024 LTI Plan are as follows: |
The
Threshold, Target and Stretch metrics under the 2024 LTI Plan are as follows:
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| | | |
| | |
| | |
| ROAE Metrics | |
| Performance Period Ending | |
| Threshold | | |
| Target | | |
| Stretch | |
| | |
| | | |
| | | |
| | |
| December 31, 2024 | |
| 5.05 | % | |
| 5.61 | % | |
| 6.17 | % |
| December 31, 2025 | |
| 6.18 | % | |
| 6.86 | % | |
| 7.55 | % |
| December 31, 2026 | |
| 7.30 | % | |
| 8.11 | % | |
| 8.92 | % |
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| EPS
Metrics
| |
| Performance Period Ending | |
| Threshold | | |
| Target | | |
| Stretch | |
| | |
| | | |
| | | |
| | |
| Three-Year Cumulative Diluted EPS | |
$ | 2.25 | | |
$ | 2.50 | | |
$ | 2.75 | |
|
| The Threshold, Target and Stretch metrics under the 2025 LTI Plan are as follows: |
The
Threshold, Target and Stretch metrics under the 2025 LTI Plan are as follows:
| | |
| | | |
| | | |
| | |
| | |
| ROAE Metrics | |
| Performance Period Ending | |
| Threshold | | |
| Target | | |
| Stretch | |
| | |
| | | |
| | | |
| | |
| December 31, 2025 | |
| 5.12 | % | |
| 6.10 | % | |
| 7.32 | % |
| December 31, 2026 | |
| 6.10 | % | |
| 7.24 | % | |
| 8.69 | % |
| December 31, 2027 | |
| 6.52 | % | |
| 7.76 | % | |
| 9.31 | % |
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| EPS Metrics
| |
| Performance Period Ending | |
| Threshold | | |
| Target | | |
| Stretch | |
| | |
| | | |
| | | |
| | |
| Three-Year Cumulative Diluted EPS | |
$ | 2.10 | | |
$ | 2.50 | | |
$ | 3.00 | |
|
| A summary of the status of unvested restricted stock awards at December 31, 2025 and December 31, 2024 is presented below: |
A
summary of the status of unvested restricted stock awards at December 31, 2025 and December 31, 2024 is presented below:
| | | |
Shares | | |
Weighted Average Grant Date Fair Value ($) | |
| Balance at December 31, 2024 | | |
| 254,732 | | |
| 9.01 | |
| Shares
granted | | |
| 126,615 | | |
| 9.31 | |
| Shares reissued | | |
| 30,697 | | |
| 9.33 | |
| Shares
forfeited | | |
| (38,269 | ) | |
| 9.08 | |
| Shares
vested | | |
| (112,775 | ) | |
| 9.19 | |
| Balance at December 31, 2025 | | |
| 261,000 | | |
| 9.11 | |
| | | |
Shares | | |
Weighted
Average Grant Date Fair Value ($) | |
| Balance at December 31, 2023 | | |
| 220,635 | | |
| 9.29 | |
| Shares granted | | |
| 187,049 | | |
| 8.38 | |
| Shares forfeited | | |
| (2,384 | ) | |
| 8.39 | |
| Shares vested | | |
| (150,568 | ) | |
| 8.65 | |
| Balance at December 31, 2024 | | |
| 254,732 | | |
| 9.01 | |
|
| At December 31, 2025, the remaining principal balances are payable as follows: |
At December 31, 2025, the remaining principal
balances are payable as follows:
| Years Ending | | |
| |
| December 31, | | |
Amount | |
| (Dollars in thousands) | |
| 2026 | | |
$ | 447 | |
| 2027 | | |
| 395 | |
| 2028 | | |
| 245 | |
| 2029 | | |
| 245 | |
| 2030 | | |
| 245 | |
| Thereafter | | |
| 218 | |
| Total | | |
$ | 1,795 | |
|
| Shares held by the ESOP include the following at December 31, 2025 and December 31, 2024: |
Shares
held by the ESOP include the following at December 31, 2025 and December 31, 2024:
| | |
2025 | | |
2024 | |
| Allocated | |
| 1,164,241 | | |
| 1,182,583 | |
| Committed to be allocated | |
| 67,377 | | |
| 71,240 | |
| Unallocated | |
| 152,877 | | |
| 220,254 | |
| Total | |
| 1,384,495 | | |
| 1,474,077 | |
|