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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Mar. 31, 2022
Accounting Policies [Abstract] |
Schedule of Impact to Financial Statements Upon Adoption of ASC 326 | The following table illustrates the impact to our financial statements as of January 1, 2022 upon adoption of ASC 326:
| January 1, 2022 |
(In thousands) | Impact to Consolidated Statement of Condition from ASC-326 Adoption |  |  | Tax Effect |  |  | Impact to Retained Earnings from ASC-326 Adoption |
Allowance for credit losses on loans | $ | (5,536 | ) |  | $ | 1,490 |  |  | $ | 4,046 |
Allowance for credit losses on off-balance sheet commitments |  | 188 |  |  |  | (51 | ) |  |  | 137 |
Total impact from ASC 326 adoption | $ | (5,348 | ) |  | $ | 1,439 |  |  | $ | (3,909 | )
Schedule of Changes in Options Outstanding | For the Company’s stock option plans, changes in options outstanding during the three months ended March 31, 2022, were as follows:
|  |  |  |  |  |  |  |  |  | Weighted |  |  |  |
|  |  |  |  |  | Weighted |  |  | Average |  | Aggregate |
|  |  |  |  |  | Average |  |  | Remaining |  | Intrinsic |
|  | Number of |  |  | Exercise |  |  | Contractual |  | Value |
|  | Options |  |  | Price |  |  | Term |  | (In thousands) |
Balance, January 1, 2022 |  |  | 31,340 |  |  | $ | 14.59 |  |  |  |  |  |  |
Exercised during 2022 |  |  | (9,260 | ) |  |  | 13.03 |  |  |  |  |  |  |
Expired during 2022 |  |  | — |  |  |  | — |  |  |  |  |  |  |
Forfeited during 2022 |  |  | (480 | ) |  |  | 10.72 |  |  |  |  |  |  |
Balance, March 31, 2022 |  |  | 21,600 |  |  | $ | 15.35 |  |  | 0.94 years |  | $ | 419 |
Vested and expected to vest |  |  | 21,600 |  |  | $ | 15.35 |  |  | 0.94 years |  | $ | 419 |
Exercisable at March 31, 2022 |  |  | 21,600 |  |  | $ | 15.35 |  |  | 0.94 years |  | $ | 419 |
Schedule of Changes in Non-Vested Performance-Based Shares | Changes in non-vested shares dependent on performance criteria for the three months ended March 31, 2022 were as follows:
|  |  |  |  |  | Weighted |
|  |  |  |  |  | Average |
|  | Number of |  |  | Grant Date |
|  | Shares |  |  | Fair Value |
Balance, January 1, 2022 |  |  | 225,435 |  |  | $ | 20.29 |
Granted during 2022 |  |  | 71,482 |  |  |  | 35.93 |
Vested during 2022 |  |  | (53,729 | ) |  |  | 26.34 |
Forfeited during 2022 |  |  | (5,284 | ) |  |  | 17.92 |
Balance, March 31, 2022 |  |  | 237,904 |  |  | $ | 23.68 |
Schedule of Changes in Service-Based Restricted Stock Awards/Units | Changes in service-based restricted stock awards/units for the three months ended March 31, 2022 were as follows:
|  |  |  |  |  | Weighted |
|  |  |  |  |  | Average |
|  | Number of |  |  | Grant Date |
|  | Shares |  |  | Fair Value |
Balance, January 1, 2022 |  |  | 701,145 |  |  | $ | 21.93 |
Granted during 2022 |  |  | 233,910 |  |  |  | 36.86 |
Vested during 2022 |  |  | (252,955 | ) |  |  | 21.46 |
Forfeited during 2022 |  |  | (16,434 | ) |  |  | 19.80 |
Balance, March 31, 2022 |  |  | 665,666 |  |  | $ | 27.41 |
Schedule of Calculation of Basic and Diluted Earnings per Share | For the three months ended March 31, 2022, restricted stock units totaling 299,433 were not included in the computation of diluted earnings per share because they were anti-dilutive. For the three months ended March 31, 2021, restricted stock units totaling 239,472 were not included in the computation of diluted earnings per share because they were anti-dilutive. Anti-dilutive shares are common stock equivalents with weighted average exercise prices in excess of the average market value for the periods presented.
| Three Months Ended |
| March 31, |
(Dollars in thousands, except per share data) | 2022 |  |  | 2021 |
Net income available to common shareholders | $ | 13,441 |  |  | $ | 13,178 |
Basic weighted average shares outstanding |  | 18,339,013 |  |  |  | 18,950,305 |
Plus: common stock equivalents |  | 607,670 |  |  |  | 581,384 |
Diluted weighted average shares outstanding |  | 18,946,683 |  |  |  | 19,531,689 |
Net income per share |  |  |  |  |  |  |
Basic | $ | 0.73 |  |  | $ | 0.70 |
Diluted |  | 0.71 |  |  |  | 0.67 |

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