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DIVIDEND REINVESTMENT AND COMMON STOCK REPURCHASE PLAN | 12 Months Ended
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Dec. 31, 2023
Dividend Reinvestment and Common Stock Repurchase Plan [Abstract] |
DIVIDEND REINVESTMENT AND COMMON STOCK REPURCHASE PLAN | DIVIDEND REINVESTMENT AND COMMON STOCK REPURCHASE PLAN We have in effect a DRIP which allows enrolled shareholders to reinvest dividends paid to them by the Company into new shares of our stock. The DRIP is funded by stock authorized but not yet issued. For the year ended December 31, 2023, 38,884 shares were issued under this plan at an average price per share of $31.48, reflective of other trades at the time of each sale. For the years ended December 31, 2022 and December 31, 2021, 31,853 and 34,150 shares, respectively, were issued under this plan at an average price per share of $38.70 and $39.64, respectively, reflective of other trades at the time of each sale. We repurchased 1,435,193 shares of our common stock at a cost of $45.1 million during the year ended December 31, 2023, 923,775 shares of common stock at a cost of $33.8 million during the year ended December 31, 2022, and 938,484 shares of common stock at a cost of $34.1 million during the year ended December 31, 2021. Repurchased shares are designated as treasury shares and are available for general corporate purposes, which may include possible use in connection with our share-based incentive plans and other distributions. Our board of directors continually evaluates the Company's capital needs and those of the Bank and may, at its discretion, initiate, modify or discontinue an authorized repurchase plan without notice.

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