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SHAREHOLDERS’ EQUITY AND EARNINGS PER COMMON SHARE (Tables) | 12 Months Ended
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Dec. 31, 2019
Stockholders' Equity Note [Abstract] |
Schedule of Actual and Required Capital Ratios | The actual and required capital ratios at December 31, 2019 and December 31, 2018 were as follows:
|  | 2019
|  | Actual |  | Regulatory Minimum to be "Well-Capitalized"
(in thousands, except ratios) |  | Amount |  | Ratio |  | Amount |  | Ratio
Company (consolidated) |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | $ | 341,492 |  |  | 13.61 | % |  | $ | 263,377 |  |  | 10.50 | %
Common equity tier 1 capital to risk-weighted assets |  | 265,205 |  |  | 10.57 |  |  | 175,584 |  |  | 7.00 |
Tier 1 capital to risk-weighted assets |  | 285,825 |  |  | 11.39 |  |  | 213,211 |  |  | 8.50 |
Tier 1 capital to average assets |  | 285,825 |  |  | 8.13 |  |  | 175,890 |  |  | 5.00 |
Bank |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | $ | 310,982 |  |  | 12.42 | % |  | $ | 262,999 |  |  | 10.50 | %
Common equity tier 1 capital to risk-weighted assets |  | 295,315 |  |  | 11.79 |  |  | 175,332 |  |  | 7.00 |
Tier 1 capital to risk-weighted assets |  | 295,315 |  |  | 11.79 |  |  | 212,904 |  |  | 8.50 |
Tier 1 capital to average assets |  | 295,315 |  |  | 8.39 |  |  | 175,996 |  |  | 5.00 |
|  | 2018
|  | Actual |  | Regulatory Minimum to be "Well-Capitalized"
(in thousands, except ratios) |  | Amount |  | Ratio |  | Amount |  | Ratio
Company (consolidated) |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | $ | 331,628 |  |  | 14.23 | % |  | $ | 230,093 |  |  | 9.88 | %
Common equity tier 1 capital to risk-weighted assets |  | 274,838 |  |  | 11.80 |  |  | 148,542 |  |  | 6.38 |
Tier 1 capital to risk-weighted assets |  | 295,458 |  |  | 12.68 |  |  | 183,492 |  |  | 7.88 |
Tier 1 capital to average assets |  | 295,458 |  |  | 8.53 |  |  | 173,102 |  |  | 5.00 |
Bank |  |  |  |  |  |  |  |
Total capital to risk-weighted assets |  | $ | 321,390 |  |  | 13.82 | % |  | $ | 229,707 |  |  | 9.88 | %
Common equity tier 1 capital to risk-weighted assets |  | 302,220 |  |  | 12.99 |  |  | 148,292 |  |  | 6.38 |
Tier 1 capital to risk-weighted assets |  | 302,220 |  |  | 12.99 |  |  | 183,184 |  |  | 7.88 |
Tier 1 capital to average assets |  | 302,220 |  |  | 8.74 |  |  | 172,990 |  |  | 5.00 |
Schedule of Components of Accumulated Other Comprehensive Income | Components of accumulated other comprehensive income at December 31, 2019 and December 31, 2018 are as follows:
(in thousands) |  | 2019 |  | 2018
Other accumulated comprehensive income (loss), before tax: |  |  |  |
Net unrealized gain (loss) on AFS securities |  | $ | 7,342 |  |  | $ | (11,304 | )
Net unrealized loss on derivative hedges |  | (718 | ) |  | (2,934 | )
Net unrealized loss on post-retirement plans |  | (1,512 | ) |  | (1,162 | )
Income taxes related to items of accumulated other comprehensive (income) loss: |  |  |  |
Net unrealized (gain) loss on AFS securities |  | (1,793 | ) |  | 2,641 |
Net unrealized loss on derivative hedges |  | 237 |  |  | 685 |
Net unrealized loss on post-retirement plans |  | 355 |  |  | 272 |
Accumulated other comprehensive income (loss) |  | $ | 3,911 |  |  | $ | (11,802 | )
The following table presents the changes in each component of accumulated other comprehensive income/(loss) in 2019, 2018 and 2017:
|  | 2019
(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 |  | $ | (8,665 | ) |  | $ | (2,249 | ) |  | $ | (888 | ) |  | $ | (11,802 | )
Other comprehensive gain/(loss) before reclassifications |  | 14,394 |  |  | (651 | ) |  | (267 | ) |  | 13,476 |
Less: amounts reclassified from accumulated other comprehensive income |  | 182 |  |  | (2,419 | ) |  | — |  |  | (2,237 | )
Total other comprehensive loss |  | 14,212 |  |  | 1,768 |  |  | (267 | ) |  | 15,713 |
Balance at end of period |  | $ | 5,547 |  |  | $ | (481 | ) |  | $ | (1,155 | ) |  | $ | 3,911 |
|  | 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 | )
Schedule of Components of Other Comprehensive Income | The following table presents the components of other comprehensive income in 2019, 2018 and 2017:
|  | 2019
(in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Net unrealized gain on AFS securities: |  |  |  |  |  |
Net unrealized gain arising during the period |  | $ | 18,883 |  |  | $ | (4,489 | ) |  | $ | 14,394 |
Less: reclassification adjustment for gains (losses) realized in net income |  | 237 |  |  | (55 | ) |  | 182 |
Net unrealized gain on AFS securities |  | 18,646 |  |  | (4,434 | ) |  | 14,212 |
Net unrealized loss on derivative hedges: |  |  |  |  |  |
Net unrealized loss arising during the period |  | (940 | ) |  | 289 |  |  | (651 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | (3,156 | ) |  | 737 |  |  | (2,419 | )
Net unrealized gain on derivative hedges |  | 2,216 |  |  | (448 | ) |  | 1,768 |
Net unrealized gain on post-retirement plans: |  |  |  |  |  |
Net unrealized gain arising during the period |  | (350 | ) |  | 83 |  |  | (267 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized gain on post-retirement plans |  | (350 | ) |  | 83 |  |  | (267 | )
Other comprehensive income |  | $ | 20,512 |  |  | $ | (4,799 | ) |  | $ | 15,713 |
|  | 2018
(in thousands) |  | Before Tax |  | Tax Effect |  | Net of Tax
Net unrealized loss on AFS securities: |  |  |  |  |  |
Net unrealized loss 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 loss on AFS securities |  | (8,563 | ) |  | 1,978 |  |  | (6,585 | )
Net unrealized gain on derivative hedges: |  |  |  |  |  |
Net unrealized gain arising during the period |  | 654 |  |  | (168 | ) |  | 486 |
Less: reclassification adjustment for gains (losses) realized in net income |  | — |  |  | — |  |  | — |
Net unrealized gain 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 gain on AFS securities: |  |  |  |  |  |
Net unrealized gain arising during the period |  | $ | 545 |  |  | $ | (121 | ) |  | $ | 424 |
Less: reclassification adjustment for gains (losses) realized in net income |  | 19 |  |  | (7 | ) |  | 12 |
Net unrealized gain 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 loss arising during the period |  | (347 | ) |  | 146 |  |  | (201 | )
Less: reclassification adjustment for gains (losses) realized in net income |  | (21 | ) |  | 8 |  |  | (13 | )
Net unrealized loss on post-retirement plans |  | (326 | ) |  | 138 |  |  | (188 | )
Other comprehensive loss |  | $ | (638 | ) |  | $ | 410 |  |  | $ | (228 | )
Schedule of 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 2019, 2018 and 2017:
(in thousands) |  | 2019 |  | 2018 |  | 2017 |  | Affected Line Item where Net Income is Presented
Realized gains on AFS securities: |  |  |  |  |  |  |  |
Before tax |  | $ | 237 |  |  | $ | (924 | ) |  | $ | 19 |  |  | Non-interest income
Tax effect |  | (55 | ) |  | 216 |  |  | (7 | ) |  | Tax expense
Total reclassifications for the period |  | $ | 182 |  |  | $ | (708 | ) |  | $ | 12 |  |  | Net of tax
(in thousands) |  | 2019 |  | 2018 |  | 2017 |  | Affected Line Item where Net Income is Presented
Realized loss on effective derivative hedges: |  |  |  |  |  |  |  |
Before tax |  | $ | (3,156 | ) |  | $ | — |  |  | $ | — |  |  | Non-interest expense
Tax effect |  | 737 |  |  | — |  |  | — |  |  | Tax benefit
Total reclassifications for the period |  | $ | (2,419 | ) |  | $ | — |  |  | $ | — |  |  | Net of tax
(in thousands) |  | 2019 |  | 2018 |  | 2017 |  | Affected Line Item where Net Income is Presented
Realized loss on post-retirement plans: |  |  |  |  |  |  |  |
Before tax |  | $ | — |  |  | $ | (29 | ) |  | $ | (21 | ) |  | Salaries and benefits
Tax effect |  | — |  |  | 7 |  |  | 8 |  |  | Tax benefit
Total reclassifications for the period |  | $ | — |  |  | $ | (22 | ) |  | $ | (13 | ) |  | 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) |  | 2019 |  | 2018 |  | 2017
Net income |  | $ | 22,620 |  |  | $ | 32,937 |  |  | $ | 25,993 |
Average number of basic common shares outstanding |  | 15,540,884 |  |  | 15,487,686 |  |  | 15,183,615 |
Plus: dilutive effect of stock options and awards outstanding |  | 46,109 |  |  | 76,778 |  |  | 106,795 |
Average number of diluted common shares outstanding |  | 15,586,993 |  |  | 15,564,464 |  |  | 15,290,410 |
Anti-dilutive options excluded from earnings calculation |  | — |  |  | 7,991 |  |  | 8,659 |
Earnings per share: |  |  |  |  |  |
Basic |  | $ | 1.46 |  |  | $ | 2.13 |  |  | $ | 1.71 |
Diluted |  | $ | 1.45 |  |  | $ | 2.12 |  |  | $ | 1.70 |

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