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SHARE-BASED COMPENSATION PLANS (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Shares Activity A summary of the status of the combined RSUs and PSUs is as follows:
NumberWeighted Average
Grant Date Fair Value
Outstanding at December 31, 2021
268,531$26.83 
Granted91,94251.55 
Cancelled or forfeited(11,921)33.58 
Vested(121,477)27.90 
Outstanding at December 31, 2022
227,075 $33.95 
Schedule of Performance Share Units Valuation Assumptions
The assumptions used in the Monte Carlo simulations used to determine fair market value of the PSUs granted in 2022, 2021 and 2020 are set forth in the table below:
202220212020
Volatility of common stock40.3 %40.5 %33.9 %
Average volatility of peer companies44.2 %43.5 %34.8 %
Average correlation coefficient of peer companies0.8079 %0.8004 %0.7561 %
Risk-free interest rate1.0 %0.2 %0.3 %
Expected term in years3.00 years3.00 years2.76 years