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Stock Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock Option Activity

The following table summarizes stock option activity for the three-year period ended December 31, 2025:

 

 

 

Number of shares

 

 

Weighted-
average
exercise price

 

Options outstanding - December 31, 2022

 

 

196,747

 

 

$

45.35

 

Options exercised

 

 

(30,433

)

 

 

31.77

 

Options outstanding - December 31, 2023

 

 

166,314

 

 

$

47.83

 

Options exercised

 

 

(22,400

)

 

 

33.55

 

Options outstanding - December 31, 2024

 

 

143,914

 

 

$

50.06

 

Options exercised

 

 

(15,087

)

 

 

36.72

 

Options outstanding - December 31, 2025

 

 

128,827

 

 

$

51.62

 

Exercisable options —

 

 

 

 

 

 

December 31, 2023

 

 

147,937

 

 

$

46.06

 

December 31, 2024

 

 

137,429

 

 

 

49.45

 

December 31, 2025

 

 

128,827

 

 

 

51.62

 

Schedule of Aggregate Intrinsic Value Related to Options Exercised, Outstanding and Exercisable

The following table summarizes the aggregate intrinsic value related to options exercised, outstanding and exercisable as of and for the years ended December 31:

 

 

 

2025

 

 

2024

 

 

2023

 

 

 

(In thousands)

 

Exercised

 

$

3,039

 

 

$

3,272

 

 

$

3,919

 

Outstanding

 

 

15,819

 

 

 

23,323

 

 

 

17,718

 

Exercisable

 

 

15,819

 

 

 

22,356

 

 

 

16,023

 

 

Schedule of Fair Value of Nonvested Shares

The fair value of nonvested shares is determined based on the market price of the shares on the grant date.

 

 

Shares

 

 

Fair value
per share

 

Nonvested at December 31, 2022

 

51,075

 

 

$

84.85

 

Granted

 

21,261

 

 

 

125.11

 

Vested

 

(30,408

)

 

 

75.97

 

Forfeited

 

(836

)

 

 

97.68

 

Nonvested at December 31, 2023

 

41,092

 

 

$

111.99

 

Granted

 

18,782

 

 

 

161.50

 

Vested

 

(16,591

)

 

 

104.74

 

Forfeited

 

(1,244

)

 

 

139.72

 

Nonvested at December 31, 2024

 

42,039

 

 

$

136.15

 

Granted

 

17,907

 

 

 

209.46

 

Vested

 

(14,190

)

 

 

117.48

 

Forfeited

 

(1,651

)

 

 

163.38

 

Nonvested at December 31, 2025

 

44,105

 

 

$

170.90

 

Summary of Performance Share Activity

A summary of performance share activity for the three years ended December 31 is as follows:

 

 

Performance Shares

 

 

Weighted Average Grant Date Fair Value

 

Nonvested at December 31, 2022

 

42,846

 

 

$

98.92

 

Granted

 

18,698

 

 

 

123.77

 

Adjustment for expected performance results

 

10,701

 

 

 

120.74

 

Nonvested at December 31, 2023

 

72,245

 

 

$

108.59

 

Granted

 

18,796

 

 

 

159.92

 

Adjustment for expected performance results

 

10,554

 

 

 

160.40

 

Vested

 

(20,973

)

 

 

100.37

 

Forfeited

 

(2,628

)

 

 

137.88

 

Nonvested at December 31, 2024

 

77,994

 

 

$

129.20

 

Granted

 

20,468

 

 

 

212.07

 

Adjustment for expected performance results

 

25,001

 

 

 

179.65

 

Vested

 

(23,939

)

 

 

97.62

 

Forfeited

 

(2,016

)

 

 

188.37

 

Nonvested at December 31, 2025

 

97,508

 

 

$

166.06