SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 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 nine months ended September 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		(200	)		17.14
Balance, September 30, 2023		2,600		$	18.98	0.32 years	$	17
Vested and expected to vest		2,600		$	18.98	0.32 years	$	17
Exercisable at September 30, 2023		2,600		$	18.98	0.32 years	$	17

Schedule of Changes in Non-Vested Performance-Based Shares

Changes in non-vested shares dependent on performance criteria for the nine months ended September 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		(177,072	)		16.93
Forfeited during 2023		(247	)		13.44
Balance, September 30, 2023		183,058		$	32.50

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

Changes in service-based restricted stock awards/units for the nine months ended September 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		(252,837	)		26.07
Forfeited during 2023		(6,778	)		29.27
Balance, September 30, 2023		632,942		$	29.53

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				Nine Months Ended
	September 30,				September 30,
(Dollars in thousands, except per share data)	2023		2022		2023		2022
Net income available to common shareholders	$	8,755	$	20,126	$	40,255	$	53,667
Basic weighted average shares outstanding		17,856,961		18,072,385		17,876,316		18,244,691
Plus: common stock equivalents		153,166		348,276		215,208		407,351
Diluted weighted average shares outstanding		18,010,127		18,420,661		18,091,524		18,652,042
Net income per share
Basic	$	0.49	$	1.11	$	2.25	$	2.94
Diluted		0.49		1.09		2.23		2.88