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SHARE REPURCHASE
 9 Months Ended
Sep. 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 worth or 1.5 million shares of its outstanding common stock may be acquired in the open market or through privately negotiated transactions over the next 24 months at the discretion of management. During the nine months ended September 30, 2022, the Company repurchased 184 thousand shares of common stock in open market purchases for $4.9 million at an average price of $26.52 per share.

On June 15, 2021, the Company entered into a negotiated share repurchase agreement to repurchase shares from shareholders agreeing to pay sellers over four equal quarterly installments, which are presented within the purchase of treasury stock in the cash flow statement. During the nine months ended September 30, 2022, there were two installment payments totaling $13.6 million. There are no further installment payments outstanding as of September 30, 2022.

Total consideration paid to repurchase the shares was recorded in shareholders’ equity as treasury shares.

 Three Months Ended September 30,Nine Months Ended September 30,
(in thousands, except per share data)20222022
Total number of shares purchased125 184 
Amount paid$3,355 $4,868 
Average price paid per share$26.91 $26.52