XML 123 R113.htm IDEA: XBRL DOCUMENT v3.23.3
STOCK-BASED COMPENSATION - Performance Units - Additional Information (Detail) - Omnibus Plan [Member] - Performance Shares [member] - USD ($)
$ in Millions
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Granted performance units     216,876 166,669  
Performance units program description     On March 16, 2023, the Corporation granted 216,876 performance units to executives. Performance units granted on March 16, 2023 will vest on the third anniversary of the effective date of the award based on actual achievement of two performance metrics weighted equally: relative total shareholder return (“Relative TSR”), compared to companies that comprise the KBW Nasdaq Regional Banking Index, and the achievement of a tangible book value per share (“TBVPS”) goal, which is measured based upon the growth in the tangible book value during the performance cycle, adjusted for certain allowable non-recurring transactions. The participant may earn 50% of their target opportunity for threshold level performance and up to 150% of their target opportunity for maximum level performance, based on the individual achievement of each performance goal during a three-year performance cycle. Amounts between threshold, target and maximum performance will vest in a proportional amount. Performance units granted prior to March 16, 2023 vest subject only to achievement of a TBVPS goal and the participant may earn only up to 100% of their target opportunity.    
Stock-based compensation expense $ 0.6 $ 0.5 $ 1.6 $ 1.3  
Unrecognized compensation cost related to unvested performance units $ 3.6   $ 3.6    
Period for cost recognition not yet recognized     2 years    
Fair Value assumptions method used     The fair value of the performance units awarded during the nine-month periods ended September 30, 2023 and 2022, that was based on the TBVPS goal component, was calculated based on the market price of the Corporation’s common stock on the respective date of the grant and assuming attainment of 100% of target opportunity. As of September 30, 2023, there have been no changes in management’s assessment of the probability that the pre-established TBVPS goal will be achieved; as such, no cumulative adjustment to compensation expense has been recognized. The fair value of the performance units awarded during the nine-month period ended September 30, 2023, that was based on the Relative TSR component, was calculated using a Monte Carlo simulation. Since the Relative TSR component is considered a market condition, the fair value of the portion of the award based on Relative TSR is not revised subsequent to grant date based on actual performance.    
Minimum [Member]          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Target opportunity, percentage     50.00%    
Maximum [Member]          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Vesting right percentage         100.00%
Target opportunity, percentage     150.00%    
Executives [Member]          
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]          
Performance units program description     These awards, which are granted to executives, do not contain non-forfeitable rights to dividend equivalent amounts and can only be settled in shares of the Corporation’s common stock.