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SHARE REPURCHASE
 6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
SHARE REPURCHASE SHARE REPURCHASE
On May 12, 2021, the Company announced that its Board of Directors authorized a share repurchase program (the “program”) under which up to $85.0 million or 1.5 million shares of its outstanding common stock may be acquired in the open market over the next 24 months at the discretion of management. During the six months ended June 30, 2022, the Company repurchased 58.9 thousand shares of common stock for $1.5 million at an average price of $25.66 per share.

Total consideration paid to repurchase the shares was recorded in shareholders’ equity as treasury shares. Such consideration was funded with existing cash balances and an agreement to pay sellers over four equal quarterly installments beginning on June 15, 2021 which are presented within the purchase of treasury stock in the cash flow statement. There are no installment payments outstanding.


 Three Months Ended June 30,Six Months Ended June 30,
(in thousands, except per share data)20222022
Total number of shares purchased— 58.9 
Amount paid$— $1,511 
Average price paid per share$— $25.66