Employee Benefits (Tables)

3 Months Ended

Mar. 31, 2022

Retirement Benefits [Abstract]

Summary of Components of Net Pension Expense

The components of net pension expense for the plans for the periods indicated are as follows:

	Three Months Ended March 31,
	2022		2021
	(In thousands)
Components of net periodic benefit cost:
Service cost	$	8,092	$	7,896
Interest cost	2,430		1,269
Expected return on plan assets	(9,281)		(8,141)
Past service credit	(2,970)		(2,946)
Recognized net actuarial loss	2,798		3,538
Net periodic benefit cost	$	1,069	$	1,616

Schedule of Assets Held in Rabbi Trust

Investments in rabbi trust accounts are recorded at fair value within the Company's consolidated balance sheets with changes in fair value recorded through noninterest income. The following table presents the book value, mark-to-market, and fair value of assets held in rabbi trust accounts by asset type:

	As of March 31, 2022						As of December 31, 2021
	Book Value		Mark-to-Market		Fair Value		Book Value		Mark-to-Market		Fair Value
Asset Type	(In thousands)
Cash and cash equivalents	$	5,445	$	—	$	5,445	$	4,494	$	—	$	4,494
Equities (1)	59,487		14,257		73,744		67,401		24,295		91,696
Fixed income	8,466		(363)		8,103		8,126		56		8,182
Total assets	$	73,398	$	13,894	$	87,292	$	80,021	$	24,351	$	104,372

(1)     Equities include mutual funds and other exchange-traded funds.

Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity

The following table summarizes the Company’s restricted stock award activity for the three months ended March 31, 2022:

	Number of Shares	Weighted-Average Grant Price Per Share
Non-vested restricted stock as of December 31, 2021	683,056	$	20.13
Granted	—	—
Non-vested restricted stock as of March 31, 2022	683,056	$	20.13

The following table summarizes the Company’s restricted stock unit activity for the three months ended March 31, 2022:

	Number of Shares	Weighted-Average Grant Price Per Share
Non-vested restricted stock units as of December 31, 2021	—	$	—
Granted	978,364	21.08
Non-vested restricted stock units as of March 31, 2022	978,364	$	21.08

Share-based Payment Arrangement, Performance Shares, Activity

The following table summarizes the Company’s performance stock unit activity for the three months ended March 31, 2022:

	Number of Shares	Weighted-Average Grant Price Per Share
Non-vested performance stock units as of December 31, 2021	—	$	—
Granted	533,676	21.12
Non-vested performance stock units as of March 31, 2022	533,676	$	21.12