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STOCK BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Cumulatively Granted Stock Options and Restricted Stock Awards, Net of Forfeitures and Expirations | The following table presents the amount of cumulatively granted stock option awards and restricted stock awards, net of forfeitures and expirations, through December 31, 2018:
|  |  | Authorized Awards | Cumulatively Granted, Net of Forfeitures and Expirations |  | Total |  | Authorized but Unissued |
| Stock Option Awards |  | Restricted Stock Awards |
| 2005 Plan |  | 1,650,000 |  | 387,258 |  |  | 750,931 |  |  | 1,138,189 |  |  | 511,811 |  |
| 2010 Plan |  | 314,600 |  | 46,500 |  |  | 93,245 |  |  | 139,745 |  |  | 174,855 |  | (1)
| 2018 Plan |  | 300,000 |  | — |  |  | 6,000 |  |  | 6,000 |  |  | 294,000 |  | (1)
Schedule of Pre-tax Compensation Expense and Related Tax Benefits | The following table presents the pre-tax expense associated with stock option and restricted stock awards and the related tax benefits recognized for the periods presented:
| Years Ended December 31
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Stock based compensation expense |  |  |  |  |
Restricted stock awards(1) | $ | 3,299 |  |  | $ | 2,730 |  |  | $ | 2,590 |
Directors’ fee expense |  |  |  |  |
Stock options | 66 |  |  | 76 |  |  | 72 |
Restricted stock awards | 860 |  |  | 527 |  |  | 303 |
Total stock based award expense | $ | 4,225 |  |  | $ | 3,333 |  |  | $ | 2,965 |
Related tax benefits recognized in earnings | $ | 1,188 |  |  | $ | 1,362 |  |  | $ | 1,211 |
(1) Inclusive of compensation expense associated with time-vested and performance-based restricted stock awards.
Schedule of Stock Options Granted | The following table presents the awards granted by the Company of nonqualified options to purchase shares of common stock for the periods presented:
| Years Ended December 31
| 2018 |  | 2017 |  | 2016
Date of grant | 4/3/2018 |  |  | 11/7/2017 |  |  | 7/14/2016 |  | 2/20/2016 |
Plan | 2010 |  |  | 2010 |  |  | 2010 |  | 2010 |
Options granted | 5,000 |  |  | 5,000 |  |  | 5,000 |  | 5,000 |
Vesting period (beginning on the grant date) | 21 months |  |  | 14 months |  |  | 18 months |  | 22 months |
Expiration date | 4/3/2028 |  |  | 11/7/2027 |  |  | 7/14/2026 |  | 2/20/2026 |
Expected volatility | 21.15 | % |  | 20.80 | % |  | 32.28 | % | 32.44 | %
Expected life (years) | 5.5 |  |  | 5.5 |  |  | 5.5 |  | 5.5 |
Expected dividend yield | 1.94 | % |  | 1.87 | % |  | 2.37 | % | 2.28 | %
Risk free interest rate | 2.62 | % |  | 2.02 | % |  | 1.14 | % | 1.29 | %
Fair value per option | $ | 13.46 |  |  | $ | 12.43 |  |  | $ | 11.46 |  | $ | 10.59 |
Schedule of Relevant Information Relating to Stock Options | The following table presents relevant information relating to the Company’s stock options for the periods presented:
| Years Ended December 31
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands, except per share data)
Fair value of stock options vested based on grant date fair value | $ | 85 |  |  | $ | 72 |  |  | $ | 37 |
Intrinsic value of stock options exercised | $ | 1,525 |  |  | $ | 1,082 |  |  | $ | 494 |
Cash received from stock option exercises | $ | 1,024 |  |  | $ | 918 |  |  | $ | 680 |
Tax benefit realized on stock option exercises | $ | 429 |  |  | $ | 442 |  |  | $ | 204 |
Weighted average grant date fair value of options granted (per share) | $ | 13.46 |  |  | $ | 12.43 |  |  | $ | 11.03 |
Schedule of Stock Options | summary of stock option award activity for the year ended December 31, 2018.
| Outstanding |  | Nonvested |  |
| Stock Option Awards |  |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (1) |  | Stock Option Awards |  |  | Weighted Average Grant Date Fair Value |  |
| (Dollars in thousands, except per share data) |  |
Balance at January 1, 2018 | 84,000 |  |  |  | $ | 32.16 |  |  |  |  |  |  | 4,999 |  |  |  | $ | 12.11 |  |  |
Granted | 5,000 |  |  |  | 70.85 |  |  |  |  |  |  | 5,000 |  |  |  | 13.46 |  |  |
Exercised | (34,500 | ) |  |  | 29.67 |  |  |  |  |  |  | n/a |  |  |  | n/a |  |  |
Vested | n/a |  |  |  | n/a |  |  |  |  |  |  | (6,667 | ) |  |  | 12.70 |  |  |
Forfeited | — |  |  |  | — |  |  |  |  |  |  | — |  |  |  | — |  |  |
Expired | — |  |  |  | — |  |  |  |  |  |  | — |  |  |  | — |  |  |
Balance at December 31, 2018 | 54,500 |  | (2) |  | $ | 37.28 |  |  | 4.02 years |  | $ | 1,776 |  |  | 3,332 |  |  |  | $ | 12.94 |  |  |
Options outstanding and expected to vest at December 31, 2018 | 54,500 |  | (3) |  | $ | 37.28 |  |  | 4.02 years |  | $ | 1,776 |  |  |  |  |  |  |  |
Options exercisable at December 31, 2018 | 51,168 |  | (4) |  | $ | 35.12 |  |  | 3.69 years |  | $ | 1,776 |  |  |  |  |  |  |  |
Unrecognized compensation cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 23 |
Weighted average remaining recognition period (years) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.00 |
(1) | The aggregate intrinsic value represents the total pre-tax intrinsic value, based on the average of the high price and low price at which the Company’s common stock traded on December 31, 2018 of $69.72, which would have been received by in-the-money option holders had they all exercised their options as of that date.
(2)Inclusive of 32,500 stock options outstanding to Directors. (3) Inclusive of 32,500 vested stock options and expected to vest to Directors. (4) Inclusive of 29,168 vested stock options outstanding to Directors.
Schedule of Restricted Stock Granted | The Company grants both time-vested restricted stock awards as well as performance-based restricted stock awards. During the years ended December 31, 2018, 2017, and 2016 the Company has made the following restricted stock award grants:
| Shares Granted |  | Plan |  | Fair Value (1) |  | Vesting Period
Time-vested |  |  |  |  |  |  |
2018 |  |  |  |  |  |  |
2/15/2018 | 39,950 |  |  | 2005 |  | $ | 71.75 |  |  | Ratably over 5 years from grant date
2/27/2018 | 1,150 |  |  | 2005 |  | $ | 72.60 |  |  | Ratably over 5 years from grant date
5/15/2018 | 530 |  |  | 2005 |  | $ | 74.00 |  |  | Ratably over 5 years from grant date
5/22/2018 | 6,000 |  |  | 2018 |  | $ | 76.58 |  |  | Immediately upon grant date
11/15/2018 | 560 |  |  | 2005 |  | $ | 77.78 |  |  | Ratably over 5 years from grant date
2017 |  |  |  |  |  |  |
2/13/2017 | 1,200 |  |  | 2005 |  | $ | 62.53 |  |  | Ratably over 5 years from grant date
2/16/2017 | 34,150 |  |  | 2005 |  | $ | 63.10 |  |  | Ratably over 5 years from grant date
3/31/2017 | 500 |  |  | 2005 |  | $ | 65.63 |  |  | Ratably over 5 years from grant date
4/3/2017 | 1,500 |  |  | 2005 |  | $ | 64.14 |  |  | Once on November 30, 2017 (2)
5/15/2017 | 1,000 |  |  | 2005 |  | $ | 64.03 |  |  | Ratably over 5 years from grant date
5/23/2017 | 7,000 |  |  | 2010 |  | $ | 61.95 |  |  | At the end of 5 years from grant date (3)
6/15/2017 | 950 |  |  | 2005 |  | $ | 66.18 |  |  | Ratably over 5 years from grant date
2016 |  |  |  |  |  |  |
2/11/2016 | 51,475 |  |  | 2005 |  | $ | 41.96 |  |  | Ratably over 5 years from grant date
3/1/2016 | 600 |  |  | 2005 |  | $ | 44.37 |  |  | Ratably over 5 years from grant date
5/24/2016 | 8,700 |  |  | 2010 |  | $ | 48.34 |  |  | Once on May 24, 2021 (3)
9/19/2016 | 800 |  |  | 2005 |  | $ | 52.92 |  |  | Ratably over 5 years from grant date
11/7/2016 | 500 |  |  | 2005 |  | $ | 54.28 |  |  | Ratably over 5 years from grant date
11/14/2016 | 725 |  |  | 2010 |  | $ | 63.43 |  |  | Once on May 24, 2021 (3)
Performance-based |  |  |  |  |  |  |
2/15/2018 | 16,300 |  |  | 2005 |  | $ | 71.75 |  |  | The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2021.
2/16/2017 | 14,400 |  |  | 2005 |  | $ | 63.10 |  |  | The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2020.
2/11/2016 | 20,450 |  |  | 2005 |  | $ | 41.96 |  |  | The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2019.
(1) | The fair value of the restricted stock awards are based upon the average of the high and low prices at which the Company’s common stock traded on the date of grant. The holders of time-vested restricted stock awards participate fully in the rewards of stock ownership of the Company, including voting and dividend rights. The holders of performance-based restricted stock awards do not participate in the rewards of stock ownership of the Company until vested. The holders of all restricted stock awards are not required to pay any consideration to the Company for the awards.
(2) | This restricted stock grant fully vested upon an employee's termination, on November 30, 2017.
(3) | These restricted stock grants will vest on May 24, 2021, or earlier if the director ceases to be a director for any reason other than cause, such as, for example, by retirement.
Schedule of Share-based Compensation, Fair Value of Restricted Stock Awards Vesting [Table Text Block] | The following table presents the fair value of restricted stock awards vesting for the periods presented:
| Years Ended December 31
| 2018 |  | 2017 |  | 2016
| (Dollars in thousands)
Fair value of restricted stock awards upon vesting | $ | 6,277 |  |  | $ | 5,717 |  |  | $ | 3,019 |
Schedule of Restricted Stock Awards | summary of restricted stock award activity for the year ended December 31, 2018:
| Outstanding Restricted Stock Awards |  |  | Weighted Average Grant Price ($) |  |
| (Dollars in thousands, except per share data) |  |
Balance at January 1, 2018 | 225,965 |  |  |  | $ | 46.18 |  |  |
Granted | 64,490 |  |  |  | 72.28 |  |  |
Vested/released | (86,219 | ) |  |  | 43.39 |  |  |
Forfeited | (2,130 | ) |  |  | 53.78 |  |  |
Balance at December 31, 2018 | 202,106 |  | (1) |  | $ | 55.62 |  |  |
Unrecognized compensation cost (inclusive of directors’ fees) |  |  |  |  |  | $ | 6,911 |
Weighted average remaining recognition period (years) |  |  |  |  |  | 2.96 |
(1) Inclusive of 23,385 restricted stock awards outstanding to Directors.

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