v3.26.1
Share-Based Compensation (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity
The following is a summary of all the Company’s RSU awards issued under both the 2019 SIP and 2023 SIP:
Non-vested SharesSharesWeighted-Average Grant-Date Fair Value
Non-vested at December 31, 2025180,849 $59.43 
Granted58,605 68.41 
Vested(9,232)73.00 
Forfeited(4,000)63.34 
Non-vested at March 31, 2026226,222 $61.13 
Schedule of Employee Stock Purchase Plan The following table presents information for the 2023 ESPP for the three months ended March 31, 2026:
March 31, 2026
Shares purchased6,917
Weighted average price of shares purchased$54.03 
Compensation expense recognized (in 000's)$51.8 
Schedule of Share-Based Payment Award, Stock Appreciation Rights, Valuation Assumptions
Upon completion of the Summit Merger, the Company determined the fair value per SAR using the following assumptions:
2019 SAR
2021 SAR
2023 SAR
# of years to full vesting7 years7 years7 years
Fair value $14.89 $16.92 $14.56 
Risk-free interest rate4.51 %4.32 %4.14 %
Expected dividend yield3.95 %3.95 %3.95 %
Expected common stock volatility32.56 %32.56 %32.56 %
Expected contractual life (in years)
4.777.208.77
Schedule of Stock Appreciation Rights and Option Activity
A summary of SAR and option activity during the three months ended March 31, 2026, is as follows:
Weighted Average
Dollars in thousands, except per share information
SARs
Aggregate Intrinsic Value
Remaining Contractual Term (Yrs.)Exercise Price
Outstanding, December 31, 2025
184,719$1,980 4.84$48.48 
Granted (or acquired)— — —— 
Exercised(20,451)(353)—45.03 
Forfeited— — —— 
Expired— — —— 
Outstanding, March 31, 2026
164,268$1,627 4.56$48.91 
Exercisable SARs:
 At March 31, 2026140,976$1,888 4.28$48.90