EMPLOYEE BENEFITS AND STOCK BASED COMPENSATION (Tables) 10K |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Employee Benefits and Share-based Compensation, Noncash [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Payment Made for Employee Benefit Plans |
The following 401(k) Plan match and other discretionary contributions were made to the Company’s employees, in accordance with the descriptions above for the years ended December 31, (dollars in thousands):
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| Schedule of Recognized Stock-Based Compensation Expense |
The Company recognized stock-based compensation expense, which is included in “Salaries and benefits” expense on the Company’s Consolidated Statements of Income as follows for the years ended December 31, (dollars in thousands, except per share data):
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| Summary of Restricted Stock Awards |
The following table summarizes the RSA activity for the year ended December 31, 2025:
(1) For the years ended December 31, 2024 and 2023, the weighted average grant-date fair value of RSAs granted was $33.27 and $36.11, respectively.
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| Summary of Restricted Stock Units |
The following table summarizes the assumed restricted stock unit activity for the year ended December 31, 2025:
For the year ended December 31, 2025 total fair value of RSUs vested was $1.5 million. The Company did not have RSUs for the years ended December 31, 2024 and 2023. |
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| Summary of Performance Stock Activity |
(1) For the years ended December 31, 2024 and 2023, the weighted average grant-date fair value of PSUs granted was $30.24 and $36.82, respectively. (2) The number of PSUs with a performance-based condition is presented based on achieving the performance measure at the target level of performance.
For the years ended December 31, 2025, 2024, and 2023, total fair value of PSUs vested was $2.8 million, $2.2 million, and $1.2 million, respectively. |
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| Schedule of Performance Stock Units Valuation Assumptions |
(1) Calculated as the ratio of the current dividend paid per the stock price on the date of grant. (2) Represents the remaining performance period as of the grant date. (3) Based on the historical volatility for the period commensurate with the expected life of the PSUs. (4) Based upon the zero-coupon U.S. Treasury rate commensurate with the expected life of the PSUs on the grant date. (5) Calculated using projected dividend payments and timing over the remaining performance period. N/A – assumption not used for respective period. |
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| Estimated Unamortized Compensation Expense Recognized in Future |
The estimated unamortized compensation expense, net of estimated forfeitures, related to, RSAs, RSUs and PSUs issued and outstanding as of December 31, 2025 that will be recognized in future periods is as follows (dollars in thousands):
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