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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2024
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
 
nine-month
 
periods
 
ended
September 30, 2024 and 2023:
Nine-Month Period Ended September 30,
2024
2023
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
889,642
$
12.30
938,491
$
9.14
Granted
(1)
413,516
17.49
519,794
12.06
Forfeited
(7,156)
13.69
(58,454)
11.31
Vested
(276,558)
12.36
(503,460)
6.27
Unvested shares outstanding at end of period
1,019,444
$
14.38
896,371
$
12.32
(1)
For the
 
nine-month period
 
ended September
 
30, 2024,
 
includes
16,448
 
shares of
 
restricted stock
 
awarded to
 
independent directors
 
and
397,068
 
shares of
 
restricted stock
 
awarded to
employees, of which
84,122
 
shares were granted to retirement-eligible employees
 
and thus charged to earnings as of the grant date.
 
For the nine-month period ended September 30, 2023,
includes
25,786
 
shares
 
of
 
restricted
 
stock
 
awarded
 
to
 
independent
 
directors
 
and
494,008
 
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.
Summary Of Performance Units Activity [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Nine-Month Period Ended September 30,
2024
2023
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
534,261
$
12.25
791,923
$
7.36
Additions
(1)
165,487
18.39
216,876
12.24
Vested
(2)
(150,716)
11.26
(474,538)
4.08
Performance units at end of period
549,032
$
14.37
534,261
$
12.25
(1)
Units granted
 
during the
 
nine-month periods
 
ended September
 
30, 2024
 
and 2023
 
are based on
 
the achievement
 
of the Relative
 
TSR and TBVPS
 
performance goals
 
during a three-year
performance cycle beginning January 1, 2024 and January
 
1, 2023, respectively, and ending on
 
December 31, 2026 and December 31, 2025, respectively.
(2)
Units vested during the nine-month periods ended September 30,
 
2024 and 2023 are related to performance units granted
 
in 2021 and 2020, respectively,
 
that met the pre-established target
and were settled with shares of common stock reissued from treasury shares.
Summary Of Valuation Assumptions [Table Text Block]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following
 
table summarizes
 
the valuation
 
assumptions used
 
to calculate
 
the fair
 
value of
 
the Relative
 
TSR component
 
of the
performance units granted under the Omnibus Plan during the nine-month
 
periods ended September 30, 2024 and 2023:
Nine-Month Period Ended September 30,
2024
2023
Risk-free interest rate
(1)
4.41
%
3.98
%
Correlation coefficient
73.80
77.16
Expected dividend yield
(2)
-
-
Expected volatility
(3)
34.65
41.37
Expected life (in years)
2.78
2.79
(1)
Based on the yield on zero-coupon U.S. Treasury
 
Separate Trading of Registered Interest and
 
Principal of Securities as of the grant date for a period equal to the simulation
 
term.
(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.