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STOCK-BASED COMPENSATION (Tables)
 6 Months Ended
Jun. 30, 2023
STOCK-BASED COMPENSATION [Abstract]  
Restricted Stock Activity Under Omnibus Plan [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table summarizes the restricted stock activity under the Omnibus
 
Plan during the six-month periods ended June 30,
 
2023 and 2022:
Six-Month Period Ended
Six-Month Period Ended
June 30,
 
2023
June 30,
 
2022
Number of
Weighted-
Number of
Weighted-
shares of
Average
shares of
Average
restricted
Grant Date
restricted
Grant Date
stock
 
Fair Value
stock
 
Fair Value
Unvested shares outstanding at beginning of year
938,491
$
9.14
1,148,775
$
6.61
Granted
(1)
495,891
11.99
301,440
13.15
Forfeited
(57,491)
11.29
(10,364)
8.82
Vested
(481,536)
5.93
(487,198)
5.72
Unvested shares outstanding at end of period
895,355
$
12.31
952,653
$
9.11
(1)
Includes for the six-month period ended June 30, 2023,
3,502
 
shares of restricted stock awarded to independent directors and
492,389
 
shares of restricted stock awarded to employees, of
which
33,718
 
shares were granted to retirement-eligible employees and
 
thus charged to earnings as of the grant date. Includes
 
for the six-month period ended June 30, 2022,
3,048
 
shares
of restricted stock awarded to independent directors and
298,392
 
shares of restricted stock awarded to employees, of which
6,084
 
shares were granted to retirement-eligible employees
and thus charged to earnings as of the grant date.
Summary Of Performance Units Activity [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Six-Month Period Ended
Six-Month Period Ended
June 30,
 
2023
June 30,
 
2022
Number
 
Weighted -
Number
 
Weighted -
of
Average
of
Average
Performance
Grant Date
Performance
Grant Date
Units
Fair Value
Units
Fair Value
Performance units at beginning of year
791,923
7.36
814,899
7.06
Additions
(1)
216,876
12.24
166,669
13.15
Vested
(2)
(474,538)
4.08
(189,645)
11.16
Performance units at end of period
534,261
12.25
791,923
7.36
(1)
Units granted during the six-month periods ended June
 
30,
 
2023 are subject to the achievement of the Relative TSR and TBVPS
 
performance goals during a three-year performance cycle
beginning January 1, 2023 and ending on December 31, 2025.
 
Units granted during the six-month period ended June 30,
 
2022 are subject to the achievement of the TBVPS performance
goal during a three-year performance cycle beginning January 1,
 
2022 and ending on December 31, 2024.
(2)
Units vested during the six-month period ended June 30,
 
2023 are related to performance units granted in 2020 that met certain pre-established
 
targets and were settled with shares of
common stock reissued from treasury shares. Units
 
vested during the six-month period ended June 30,
 
2022 are related to performance units granted in 2019 that met certain
 
pre-
established targets and were settled with shares
 
of common stock reissued from treasury shares.
Summary Of Valuation Assumptions [Table Text Block]
 
 
 
 
 
 
 
 
 
Six-Month Period Ended
June 30,
 
2023
Risk-free interest rate
(1)
3.98
%
Correlation coefficient
77.16
Expected dividend yield
(2)
-
Expected volatility
(3)
41.37
Expected life (in years)
2.79
(1)
Based on the yield on zero-coupon U.S. Treasury
 
STRIPS as of the grant date.
(2)
Assumes that dividends are reinvested at each ex-dividend date.
(3)
Calculated based on the historical volatility of the Corporation's
 
stock price with a look-back period equal to the simulation
 
term using daily stock prices.