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Stock Based Compensation (Tables)
 9 Months Ended
Sep. 30, 2020
Summary of Changes in Company's Nonvested Restricted Stock Awards
A summary of changes in the Company’s nonvested Restricted Stock Awards (“RSAs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2020 were as follows:
Nonvested RSAsSharesWeighted-Average
Grant-Date
Fair Value
Nonvested at January 1, 2020148,349 31.86 
Granted138,417 26.54 
Vested(75,103)29.64 
Forfeited(3,634)31.07 
Nonvested at September 30, 2020208,029 29.14 
Summary of Changes in Company's Nonvested Restricted Stock Units
A summary of changes in the Company’s nonvested Restricted Stock Units (“RSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2020 were as follows:
Nonvested RSUsSharesWeighted-Average
Grant-Date
Fair Value
Nonvested at January 1, 202055,228 38.75 
Granted38,801 26.25 
Vested— — 
Forfeited(4,316)38.75 
Nonvested at September 30, 202089,713 33.34 
Summary of Changes in Company's Stock Options
A summary of the changes in the Company’s stock options under the Omnibus Incentive Plan for the nine months ended September 30, 2020 were as follows:
Stock OptionsSharesWeighted-Average
Exercise Price		Weighted-Average
Remaining
Contractual Term
(In Years)		Aggregate
Intrinsic Value
(In Thousands)
Outstanding at January 1, 2020225,055 $24.10 
Granted32,937 24.66 
Exercised(743)15.87 
Forfeited or expired(443)38.75 
Outstanding at September 30, 2020256,806 $24.18 6.82$2,141 
Fully vested shares and shares expected to vest at September 30, 2020256,806 $24.18 6.82$2,141 
Shares exercisable at September 30, 2020174,073 $21.48 6.06$1,859 
Schedule of Information Related to Stock Options
Information related to the stock options for the nine months ended September 30, 2020 and 2019 was as follows:
Nine Months Ended September 30,
(Dollars in thousands, except per share amounts)20202019
Aggregate intrinsic value of options exercised$10 $148 
Cash received from option exercises— — 
Tax benefit realized from option exercises2 31 
Weighted average fair value per share of options granted$8.85 $10.03 
Fair Value of Stock Options Granted Weighted-Average Assumptions
The fair value of the stock options granted was determined using the following weighted-average assumptions:
Nine Months Ended September 30,
20202019
Risk-free interest rate0.46 %2.33 %
Expected term6.25 years6.25 years
Expected stock price volatility33.83 %27.46 %
Dividend yield— — 
Performance stock units - market based  
Summary of Changes in Company's Nonvested Performance Stock Units
A summary of changes in the Company’s nonvested Market Based Performance Stock Units (“Market Based PSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2020 were as follows:
Nonvested Market Based PSUsSharesWeighted-Average
Grant-Date
Fair Value
Nonvested at January 1, 202067,707 $37.71 
Granted22,220 29.93 
Vested— — 
Forfeited(4,316)38.57 
Nonvested at September 30, 202085,611 $35.65 
Schedule of Performance Stock Units, Valuation Assumptions The risk-free interest rate for the performance period was derived from the Treasury constant maturities yield curve on the valuation date.
Nine Months Ended September 30,
20202019
Grant dateMay 1, 2020May 1, 2019
Performance period3.00 years3.00 years
Stock price$26.25 $30.82 
Triumph stock price volatility43.02 %28.29 %
Risk-free rate0.25 %2.25 %
Performance Based Performance Stock Units (Performance Based PSUs)  
Summary of Changes in Company's Nonvested Performance Stock Units
A summary of changes in the Company’s nonvested Performance Based Performance Stock Units (“Performance Based PSUs”) under the Omnibus Incentive Plan for the nine months ended September 30, 2020 were as follows:
Nonvested Performance Based PSUsSharesWeighted Average
Grant Date
Fair Value
Nonvested at January 1, 2020254,000 $38.02 
Granted10,125 26.25 
Vested— — 
Forfeited(3,000)38.02 
Nonvested at September 30, 2020261,125 $37.56