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Share-Based Compensation Plans (Tables)
 6 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Summary of Restricted Stock Awards, Restricted Stock Units and Performance Share Units Activity

The Company granted restricted stock awards (“RSAs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”) during the six months ended June 30, 2023 as follows:

 

 

Number of
   Underlying
Shares

 

 

Weighted Average Grant Date Fair Value

 

RSAs

 

 

20,185

 

 

$

16.34

 

RSUs

 

 

139,510

 

 

$

16.45

 

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
June 30,

 

 

Six months ended
June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Salaries and employee benefits

 

$

453

 

 

$

760

 

 

$

963

 

 

$

1,166

 

Other noninterest expense

 

 

204

 

 

 

187

 

 

 

245

 

 

 

224

 

Total share-based compensation expense

 

$

657

 

 

$

947

 

 

$

1,208

 

 

$

1,390

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income tax benefit realized for compensation costs

 

$

69

 

 

$

283

 

 

$

438

 

 

$

474

 

 

At June 30, 2023, there was $5.2 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 2.15 years.