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Share-Based Compensation Plans (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Summary of Restricted Stock Units and Performance Share Units Activity

The MD&C Committee approved the grant of restricted stock units (“RSUs”) and performance share units (“PSUs”) shown in the table below during the nine months ended September 30, 2022.

 

 

 

Number of
   Underlying
Shares

 

 

Weighted
Average
Per Share
   Grant Date
Fair Value

 

RSUs

 

 

84,640

 

 

$

28.89

 

PSUs

 

 

29,324

 

 

 

29.35

 

Summary of Restricted Stock Awards and Restricted Stock Units Activity

The following is a summary of restricted stock awards and restricted stock units activity for the nine months ended September 30, 2022:

 

 

 

Number of
Shares

 

 

Weighted
Average
Market
Price at
Grant Date

 

Outstanding at beginning of year

 

 

195,990

 

 

$

26.56

 

Granted

 

 

125,264

 

 

 

28.79

 

Vested

 

 

(60,362

)

 

 

26.38

 

Forfeited

 

 

(5,252

)

 

 

27.27

 

Outstanding at end of period

 

 

255,640

 

 

$

27.68

 

Share-Based Compensation Expense Included in Consolidated Statements of Income The share-based compensation expense included in the consolidated statements of income, is as follows (in thousands):

 

 

 

Three months ended
September 30,

 

 

Nine months ended
September 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Salaries and employee benefits

 

$

624

 

 

$

500

 

 

$

1,790

 

 

$

1,071

 

Other noninterest expense

 

 

38

 

 

 

38

 

 

 

262

 

 

 

245

 

Total share-based compensation expense

 

$

662

 

 

$

538

 

 

$

2,052

 

 

$

1,316