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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 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 six months ended June 30, 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			(9,360	)			13.05
Expired during 2022			—				—
Forfeited during 2022			(580	)			11.49
Balance, June 30, 2022			21,400			$	15.35			0.70 years		$	307
Vested and expected to vest			21,400			$	15.35			0.70 years		$	307
Exercisable at June 30, 2022			21,400			$	15.35			0.70 years		$	307

Schedule of Changes in Non-Vested Performance-Based Shares

Changes in non-vested shares dependent on performance criteria for the six months ended June 30, 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			(58,077	)			25.77
Forfeited during 2022			(5,284	)			17.92
Balance, June 30, 2022			233,556			$	23.77

Schedule of Changes in Service-Based Restricted Stock Awards/Units

Changes in service-based restricted stock awards/units for the six months ended June 30, 2022 were as follows:

						Weighted
						Average
		Number of				Grant Date
		Shares				Fair Value
Balance, January 1, 2022			701,145			$	21.93
Granted during 2022			235,534				36.86
Vested during 2022			(267,530	)			21.48
Forfeited during 2022			(18,125	)			20.89
Balance, June 30, 2022			651,024			$	27.55

Schedule of Calculation of Basic and Diluted Earnings per Share

The following is a reconciliation of the calculation of basic and diluted earnings per share. Basic net income per share is calculated by dividing net income available to shareholders by the weighted average shares outstanding during the reporting period. Diluted net income per share is computed similarly to that of basic net income per share, except that the denominator is increased to include the number of additional shares that would have been outstanding utilizing the Treasury Stock Method if all shares underlying potentially dilutive stock options were issued and all shares of restricted stock, stock warrants or restricted stock units were to vest during the reporting period.

	Three Months Ended								Six Months Ended
	June 30,								June 30,
(Dollars in thousands, except per share data)	2022				2021				2022				2021
Net income available to common shareholders	$	20,100			$	14,418			$	33,541			$	27,596
Basic weighted average shares outstanding		18,325,605				18,963,237				18,332,272				18,956,807
Plus: common stock equivalents		311,735				476,202				450,287				516,343
Diluted weighted average shares outstanding		18,637,340				19,439,439				18,782,559				19,473,150
Net income per share
Basic	$	1.10			$	0.76			$	1.83			$	1.46
Diluted		1.08				0.74				1.79				1.42

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