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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2023

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

hanges in options outstanding during the six months ended June 30, 2023 were as follows:

										Weighted
						Weighted				Average		Aggregate
						Average				Remaining		Intrinsic
		Number of				Exercise				Contractual		Value
		Options				Price				Term		(In thousands)
Balance, January 1, 2023			6,800			$	16.53
Exercised during 2023			(1,400	)			15.03
Expired during 2023			(2,600	)			14.85
Forfeited during 2023			—				—
Balance, June 30, 2023			2,800			$	18.85			0.54 years		$	23
Vested and expected to vest			2,800			$	18.85			0.54 years		$	23
Exercisable at June 30, 2023			2,800			$	18.85			0.54 years		$	23

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, 2023 were as follows:

						Weighted
						Average
		Number of				Grant Date
		Shares				Fair Value
Balance, January 1, 2023			233,556			$	23.77
Granted during 2023			126,821				26.81
Vested during 2023			(164,438	)			15.88
Forfeited during 2023			—				—
Balance, June 30, 2023			195,939			$	32.36

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, 2023 were as follows:

						Weighted
						Average
		Number of				Grant Date
		Shares				Fair Value
Balance, January 1, 2023			621,170			$	27.50
Granted during 2023			271,387				30.94
Vested during 2023			(264,223	)			26.27
Forfeited during 2023			(2,711	)			26.20
Balance, June 30, 2023			625,623			$	29.52

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)	2023				2022				2023				2022
Net income available to common shareholders	$	13,145			$	20,100			$	31,500			$	33,541
Basic weighted average shares outstanding		17,930,611				18,325,605				17,886,154				18,332,272
Plus: common stock equivalents		148,237				311,735				267,113				450,287
Diluted weighted average shares outstanding		18,078,848				18,637,340				18,153,267				18,782,559
Net income per share
Basic	$	0.73			$	1.10			$	1.76			$	1.83
Diluted		0.73				1.08				1.74				1.79

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