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SHAREHOLDERS’ EQUITY AND EARNINGS PER COMMON SHARE (Tables) | 12 Months Ended
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Dec. 31, 2018
Stockholders' Equity Note [Abstract] |
Schedule of Actual and Required Capital Ratios | The actual and required capital ratios at December 31, 2018 and December 31, 2017 were as follows:
|  | 2018
|  | Actual |  | Minimum Capital Requirement |  | Minimum to be Well-Capitalized Under Prompt Corrective Action Provisions
(in thousands, except ratios) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Company (consolidated) |  |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | $ | 331,628 |  |  | 14.23 | % |  | $ | 186,405 |  |  | 8.00 | % |  | $ | 244,656 |  |  | 10.00 | %
Common equity tier 1 capital to risk-weighted assets |  | 274,838 |  |  | 11.80 |  |  | 104,853 |  |  | 4.50 |  |  | 151,454 |  |  | 6.50 |
Tier 1 capital to risk-weighted assets |  | 295,458 |  |  | 12.68 |  |  | 139,803 |  |  | 6.00 |  |  | 186,404 |  |  | 8.00 |
Tier 1 capital to average assets |  | 295,458 |  |  | 8.53 |  |  | 138,482 |  |  | 4.00 |  |  | 173,102 |  |  | 5.00 |
Bank |  |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | $ | 321,390 |  |  | 13.82 | % |  | $ | 186,092 |  |  | 8.00 | % |  | $ | 244,246 |  |  | 10.00 | %
Common equity tier 1 capital to risk-weighted assets |  | 302,220 |  |  | 12.99 |  |  | 104,677 |  |  | 4.50 |  |  | 151,200 |  |  | 6.50 |
Tier 1 capital to risk-weighted assets |  | 302,220 |  |  | 12.99 |  |  | 139,569 |  |  | 6.00 |  |  | 186,092 |  |  | 8.00 |
Tier 1 capital to average assets |  | 302,220 |  |  | 8.74 |  |  | 138,392 |  |  | 4.00 |  |  | 172,990 |  |  | 5.00 |
|  | 2017
|  | Actual |  | Minimum Capital Requirement |  | Minimum to be Well-Capitalized Under Prompt Corrective Action Provisions
(in thousands, except ratios) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
Company (consolidated) |  |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | $ | 307,305 |  |  | 13.73 | % |  | $ | 179,047 |  |  | 8.00 | % |  | $ | 234,999 |  |  | 10.50 | %
Common equity tier 1 capital to risk-weighted assets |  | 252,096 |  |  | 11.26 |  |  | 100,714 |  |  | 4.50 |  |  | 145,476 |  |  | 6.50 |
Tier 1 capital to risk-weighted assets |  | 272,716 |  |  | 12.19 |  |  | 134,286 |  |  | 6.00 |  |  | 179,047 |  |  | 8.00 |
Tier 1 capital to average assets |  | 272,716 |  |  | 8.10 |  |  | 134,758 |  |  | 4.00 |  |  | 168,447 |  |  | 5.00 |
Bank |  |  |  |  |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | $ | 306,495 |  |  | 13.71 | % |  | $ | 178,868 |  |  | 8.00 | % |  | $ | 234,764 |  |  | 10.50 | %
Common equity tier 1 capital to risk-weighted assets |  | 288,906 |  |  | 12.92 |  |  | 100,613 |  |  | 4.50 |  |  | 145,331 |  |  | 6.50 |
Tier 1 capital to risk-weighted assets |  | 288,906 |  |  | 12.92 |  |  | 134,151 |  |  | 6.00 |  |  | 178,868 |  |  | 8.00 |
Tier 1 capital to average assets |  | 288,906 |  |  | 8.58 |  |  | 134,702 |  |  | 4.00 |  |  | 168,378 |  |  | 5.00 |
Schedule of Components of Accumulated Other Comprehensive Income | Components of accumulated other comprehensive loss at December 31, 2018 and December 31, 2017 are as follows:
(in thousands) |  | 2018 |  | 2017
Other accumulated comprehensive loss, before tax: |  |  |  |
Net unrealized loss on AFS securities |  | $ | (11,304 | ) |  | $ | (2,741 | )
Net unrealized loss on derivative hedges |  | (2,934 | ) |  | (3,604 | )
Net unrealized loss on post-retirement plans |  | (1,162 | ) |  | (950 | )
Income taxes related to items of accumulated other comprehensive loss: |  |  |  |
Net unrealized loss on AFS securities |  | 2,641 |  |  | 1,030 |
Net unrealized loss on derivative hedges |  | 685 |  |  | 1,354 |
Net unrealized loss on post-retirement plans |  | 272 |  |  | 357 |
Accumulated other comprehensive loss |  | $ | (11,802 | ) |  | $ | (4,554 | )
The following table presents the changes in each component of accumulated other comprehensive income/(loss) in 2018, 2017 and 2016:
|  | 2018
(in thousands) |  | Net unrealized gain on AFS Securities |  | Net loss on effective derivative hedges |  | Net unrealized loss on post-retirement plans |  | Total
Balance at beginning of period |  | $ | (1,713 | ) |  | $ | (2,250 | ) |  | $ | (591 | ) |  | $ | (4,554 | )
Other comprehensive gain/(loss) before reclassifications |  | (7,293 | ) |  | 486 |  |  | (191 | ) |  | (6,998 | )
Less: amounts reclassified from accumulated other comprehensive income |  | (708 | ) |  | — |  |  | (22 | ) |  | (730 | )
Total other comprehensive loss |  | (6,585 | ) |  | 486 |  |  | (169 | ) |  | (6,268 | )
Less: amounts reclassified from accumulated other comprehensive income for ASU 2018-02 |  | (367 | ) |  | (485 | ) |  | (128 | ) |  | (980 | )
Balance at end of period |  | $ | (8,665 | ) |  | $ | (2,249 | ) |  | $ | (888 | ) |  | $ | (11,802 | )
|  | 2017
(in thousands) |  | Net unrealized gain on AFS Securities |  | Net loss on effective derivative hedges |  | Net unrealized loss on post-retirement plans |  | Total
Balance at beginning of period |  | $ | (2,125 | ) |  | $ | (1,798 | ) |  | $ | (403 | ) |  | $ | (4,326 | )
Other comprehensive gain/(loss) before reclassifications |  | 424 |  |  | (452 | ) |  | (201 | ) |  | (229 | )
Less: amounts reclassified from accumulated other comprehensive income |  | 12 |  |  | — |  |  | (13 | ) |  | (1 | )
Total other comprehensive loss |  | 412 |  |  | (452 | ) |  | (188 | ) |  | (228 | )
Balance at end of period |  | $ | (1,713 | ) |  | $ | (2,250 | ) |  | $ | (591 | ) |  | $ | (4,554 | )
|  | 2016
(in thousands) |  | Net unrealized gain on AFS Securities |  | Net loss on effective derivative hedges |  | Net unrealized loss on post-retirement plans |  | Total
Balance at beginning of period |  | $ | 5,713 |  |  | $ | (1,621 | ) |  | $ | (463 | ) |  | $ | 3,629 |
Other comprehensive gain/(loss) before reclassifications |  | (4,914 | ) |  | (177 | ) |  | 42 |  |  | (5,049 | )
Less: amounts reclassified from accumulated other comprehensive income |  | 2,924 |  |  | — |  |  | (18 | ) |  | 2,906 |
Total other comprehensive loss |  | (7,838 | ) |  | (177 | ) |  | 60 |  |  | (7,955 | )
Balance at end of period |  | $ | (2,125 | ) |  | $ | (1,798 | ) |  | $ | (403 | ) |  | $ | (4,326 | )
Schedule of Components of Other Comprehensive Income | The following table presents the components of other comprehensive income in 2018, 2017 and 2016:
|  | 2018
(in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Net unrealized gain on AFS securities: |  |  |  |  |  |
Net unrealized gain arising during the period |  | $ | (9,487 | ) |  | $ | 2,194 |  |  | $ | (7,293 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | (924 | ) |  | 216 |  |  | (708 | )
Net unrealized gain on AFS securities |  | (8,563 | ) |  | 1,978 |  |  | (6,585 | )
Net unrealized loss on derivative hedges: |  |  |  |  |  |
Net unrealized loss arising during the period |  | 654 |  |  | (168 | ) |  | 486 |
Less: reclassification adjustment for gains (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized loss on derivative hedges |  | 654 |  |  | (168 | ) |  | 486 |
Net unrealized loss on post-retirement plans: |  |  |  |  |  |
Net unrealized loss arising during the period |  | (245 | ) |  | 54 |  |  | (191 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | (29 | ) |  | 7 |  |  | (22 | )
Net unrealized loss on post-retirement plans |  | (216 | ) |  | 47 |  |  | (169 | )
Other comprehensive loss |  | $ | (8,125 | ) |  | $ | 1,857 |  |  | $ | (6,268 | )
|  | 2017
(in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Net unrealized loss on AFS securities: |  |  |  |  |  |
Net unrealized loss arising during the period |  | $ | 545 |  |  | $ | (121 | ) |  | $ | 424 |
Less: reclassification adjustment for gains (losses) realized in net income |  | 19 |  |  | (7 | ) |  | 12 |
Net unrealized loss on AFS securities |  | 526 |  |  | (114 | ) |  | 412 |
Net unrealized loss on derivative hedges: |  |  |  |  |  |
Net unrealized loss arising during the period |  | (838 | ) |  | 386 |  |  | (452 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized loss on derivative hedges |  | (838 | ) |  | 386 |  |  | (452 | )
Net unrealized loss on post-retirement plans: |  |  |  |  |  |
Net unrealized gain arising during the period |  | (347 | ) |  | 146 |  |  | (201 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | (21 | ) |  | 8 |  |  | (13 | )
Net unrealized gain on post-retirement plans |  | (326 | ) |  | 138 |  |  | (188 | )
Other comprehensive loss |  | $ | (638 | ) |  | $ | 410 |  |  | $ | (228 | )
|  | 2016
(in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Net unrealized loss on AFS securities: |  |  |  |  |  |
Net unrealized loss arising during the period |  | $ | (7,561 | ) |  | $ | 2,647 |  |  | $ | (4,914 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | 4,498 |  |  | (1,574 | ) |  | 2,924 |
Net unrealized loss on AFS securities |  | (12,059 | ) |  | 4,221 |  |  | (7,838 | )
Net unrealized loss on derivative hedges: |  |  |  |  |  |
Net unrealized loss arising during the period |  | (272 | ) |  | 95 |  |  | (177 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized loss on derivative hedges |  | (272 | ) |  | 95 |  |  | (177 | )
Net unrealized loss on post-retirement plans: |  |  |  |  |  |
Net unrealized gain arising during the period |  | 62 |  |  | (20 | ) |  | 42 |
Less: reclassification adjustment for gains (losses) realized in net income |  | (28 | ) |  | 10 |  |  | (18 | )
Net unrealized gain on post-retirement plans |  | 90 |  |  | (30 | ) |  | 60 |
Other comprehensive loss |  | $ | (12,241 | ) |  | $ | 4,286 |  |  | $ | (7,955 | )
Reclassification out of Accumulated Other Comprehensive Income | The following tables presents the amounts reclassified out of each component of accumulated other comprehensive income (loss) in 2018, 2017 and 2016:
(in thousands) |  | 2018 |  | 2017 |  | 2016 |  | Affected Line Item where Net Income is Presented
Realized gains on AFS securities: |  |  |  |  |  |  |  |
Before tax |  | $ | (924 | ) |  | $ | 19 |  |  | $ | 4,498 |  |  | Non-interest income
Tax effect |  | 216 |  |  | (7 | ) |  | (1,574 | ) |  | Tax expense
Total reclassifications for the period |  | $ | (708 | ) |  | $ | 12 |  |  | $ | 2,924 |  |  | Net of tax
(in thousands) |  | 2018 |  | 2017 |  | 2016 |  | Affected Line Item where Net Income is Presented
Realized loss on post-retirement plans: |  |  |  |  |  |  |  |
Before tax |  | $ | (29 | ) |  | $ | (21 | ) |  | $ | (28 | ) |  | Salaries and benefits
Tax effect |  | 7 |  |  | 8 |  |  | 10 |  |  | Tax benefit
Total reclassifications for the period |  | $ | (22 | ) |  | $ | (13 | ) |  | $ | (18 | ) |  | Net of tax
Schedule of Earnings Per Share, Basic and Diluted | Earnings per share have been computed based on the following (average diluted shares outstanding are calculated using the treasury stock method):
(in thousands, except per share and share data) |  | 2018 |  | 2017 |  | 2016
Net income |  | $ | 32,937 |  |  | $ | 25,993 |  |  | $ | 14,933 |
Average number of basic common shares outstanding |  | 15,487,686 |  |  | 15,183,615 |  |  | 9,068,624 |
Plus: dilutive effect of stock options and awards outstanding |  | 76,778 |  |  | 106,795 |  |  | 74,029 |
Average number of diluted common shares outstanding |  | 15,564,464 |  |  | 15,290,410 |  |  | 9,142,653 |
Anti-dilutive options excluded from earnings calculation |  | 7,991 |  |  | 8,659 |  |  | 90,249 |
Earnings per share: |  |  |  |  |  |
Basic |  | $ | 2.13 |  |  | $ | 1.71 |  |  | $ | 1.65 |
Diluted |  | $ | 2.12 |  |  | $ | 1.70 |  |  | $ | 1.63 |

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