The Company grants RSUs under compensation arrangements for the benefit of certain employees, executive officers and directors. RSU grants are subject to time-based vesting with associated compensation recognized on a straight-line basis based on the grant date fair value of the awards. The total number of RSUs granted represents the number of awards eligible to vest based upon the service conditions set forth in the grant agreements.




	Restricted Stock Units Outstanding	Weighted Average Grant Date Fair Value
Balance at beginning of period (unvested)	322,294	$	42.78
Granted	139,294	57.20
Vested	(150,755)	40.76
Forfeited	(11,345)	45.11
Balance at end of period (unvested)	299,488	$	50.41

The total fair value of RSUs vested and released was $5,723 and $6,145 for the three and six months ended June 30, 2026, respectively, and $5,199 and $5,930 for the three and six months ended June 30, 2025, respectively.

The compensation cost related to these grants and vesting of RSUs was $1,815 and $4,801 for the three and six months ended June 30, 2026, respectively, and $1,690 and $4,596 for the three and six months ended June 30, 2025, respectively. This includes amounts paid related to director grants and compensation elected to be settled in stock amounting to $248 and $545 during the three and six months ended June 30, 2026, respectively, and $231 and $474 during the three and six months ended June 30, 2025, respectively.

As of June 30, 2026, there was $10,076 of total unrecognized compensation cost related to unvested RSUs which is expected to be recognized over a weighted-average period of 2.01 years. During the three months ended June 30, 2026, a new stock-based compensation plan became effective which increased the total number of shares available for issuance during the period. As of June 30, 2026, there were 1,807,860 shares available for issuance under the Company's plan.

As of June 30, 2026 and December 31, 2025, there was $230 and $335, respectively, accrued in accrued expenses and other liabilities related to dividend equivalent units declared which is to be paid upon vesting and distribution of the underlying RSUs.

The Company awards PSUs to certain employees and executive officers. Under the terms of the awards, the number of units that will vest and convert to shares of common stock will be based on the Company’s achievement of certain performance metrics over a fixed three-year performance period. The number of shares issued upon vesting can range from 0% to 200% of the PSUs granted.

PSUs performance factors are based on the Company’s achievement of core return on average tangible common equity over the performance period relative to a predefined peer group as well as the Company’s adjusted tangible book value over the performance period.






	Performance Stock Units Outstanding(1)	Weighted Average Grant Date Fair Value
Balance at beginning of period (unvested)	240,891	$	40.24
Granted	69,078	58.18
Performance adjustment (2)	35,737	37.17
Vested	(107,228)	37.17
Forfeited or expired	(7,657)	43.57
Balance at end of period (unvested)	230,821	$	46.45
(1) PSUs are presented in the table above assuming targets are met and the awards pay out at 100%. (2) The performance adjustment represents the difference between shares granted and vested due to achievement of performance factors.

Compensation expense for PSUs is estimated each period based on the fair value of the Company’s stock at the grant date and the most probable outcome of the performance condition, adjusted for the passage of time within the performance period of the awards. For the three and six months ended June 30, 2026, the Company recorded compensation benefit related to PSUs of $539 and compensation expense of $1,836, respectively, and compensation expense of $1,292 and $3,217 for the three and six months ended June 30, 2025 respectively.

As of June 30, 2026, maximum unrecognized compensation cost at 200% payout related to the unvested PSUs was $12,411, and the weighted average remaining performance period over which the cost could be recognized was 2.00 years. As of June 30, 2026 and December 31, 2025, there was $240 and $298, respectively, accrued in accrued expenses and other liabilities related to dividend equivalent units declared which is to be paid upon vesting and distribution of the underlying PSUs.

The Company maintains an employee stock purchase plan under which employees, through payroll deductions, are able to purchase shares of Company common stock. The employee purchase price is 95% of the lower of the market price at the beginning or end of each six month offering period. The maximum number of shares issuable during any offering period is 200,000 shares, limited to 725 shares for each participating employee. There were no shares issued under the ESPP during the three months ended June 30, 2026 or 2025. There were 8,624 and 8,161 shares of common stock issued under the ESPP with proceeds from employee payroll withholdings of $413 and $340 during the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, there were 2,246,305 shares available for issuance under the ESPP.