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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2024

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

Changes in options outstanding during the three months ended March 31, 2024 were as follows:

										Weighted
						Weighted				Average				Aggregate
						Average				Remaining				Intrinsic
		Number of				Exercise				Contractual				Value
		Options				Price				Term				(In thousands)
Balance, January 1, 2024			1,400			$	19.15
Exercised during 2024			—				—
Expired during 2024			(1,400	)			19.15
Forfeited during 2024			—				—
Balance, March 31, 2024			—			$	—				—			$	—
Vested and expected to vest			—			$	—				—			$	—
Exercisable at March 31, 2024			—			$	—				—			$	—

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, 2024 were as follows:

						Weighted
						Average
		Number of				Grant Date
		Shares				Fair Value
Balance, January 1, 2024			176,364			$	32.40
Granted during 2024			4,705				31.36
Vested during 2024 (1)			(45,592	)			31.36
Forfeited during 2024			—				—
Balance, March 31, 2024			135,477			$	32.71

(1) Includes 45,592 shares that settled in cash.

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, 2024 were as follows:

						Weighted
						Average
		Number of				Grant Date
		Shares				Fair Value
Balance, January 1, 2024			626,742			$	29.62
Granted during 2024			—				—
Vested during 2024 (1)			(242,098	)			27.84
Shares to be modified in cash			(126,160	)			22.13
Forfeited during 2024			(4,496	)			31.81
Balance, March 31, 2024			253,988			$	27.85

(1) Includes 95,024 shares that settled in cash.

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
	March 31,
(Dollars in thousands, except per share data)	2024				2023
Net income available to common shareholders	$	8,631			$	18,355
Basic weighted average shares outstanding		17,711,639				17,841,203
Plus: common stock equivalents		93,708				422,107
Diluted weighted average shares outstanding		17,805,347				18,263,310
Net income per share
Basic	$	0.49			$	1.03
Diluted		0.48				1.01

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