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Share-Based Compensation Plans (Tables)
 3 Months Ended
Mar. 31, 2023
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-based restricted stock units (“PSUs”) shown in the table below during the three months ended March 31, 2023.

 

 

 

Number of
   Underlying
Shares

 

 

Weighted Average Grant Date Fair Value

 

RSUs

 

 

132,310

 

 

$

16.65

 

PSUs

 

 

53,060

 

 

 

16.66

 
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
March 31,

 

 

 

2023

 

 

2022

 

Salaries and employee benefits

 

$

510

 

 

$

406

 

Other noninterest expense

 

 

41

 

 

 

37

 

Total share-based compensation expense

 

$

551

 

 

$

443

 

 

 

 

 

 

 

 

Income tax benefit realized for compensation costs

 

$

368

 

 

$

191

 

As of March 31, 2023, there was $6.0 million of unrecognized compensation expense related to unvested restricted stock awards and restricted stock units that is expected to be recognized over a weighted average period of 2.35 years.