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STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Valuation Assumptions

The fair value of options granted was determined using the following weighted-average assumptions as of grant date, for the years ended December 31:

	2018			2017			2016
Risk-free interest rate	2.87	%		2.00	%		1.57	%
Expected term (in years)	6.50			6.46			6.50
Expected stock price volatility	20.10	%		18.54	%		20.92	%
Dividend yield	1.76	%		1.61	%		2.13	%

Schedule of Stock Option Activity

A summary of activity in the Plan during the years ended December 31 follows:

2018	Number   of Shares			Weighted-Average   Exercise Price				Weighted-Average Remaining Contractual   Life in Years		Aggregate Intrinsic Value
Outstanding at beginning of year	471,442			$	24.98			7.30		$	2,696
Granted	101,000			32.29				9.51		5
Exercised	(14,372	)		22.74				4.33		102
Forfeited	(17,800	)		26.07				6.71		96
Balance, December 31, 2018	540,270			$	26.37			6.94		$	2,160
Exercisable at end of year	207,271			$	24.37			5.63		$	1,141

2017	Number   of Shares			Weighted-Average   Exercise Price				Weighted-Average Remaining Contractual   Life in Years		Aggregate Intrinsic Value
Outstanding at beginning of year	340,377			$	23.43			7.34		$	194
Granted	159,598			27.80				9.40		480
Exercised	(7,033	)		11.94				4.23		132
Forfeited	(21,500	)		25.58				8.59		109
Balance, December 31, 2017	471,442			$	24.98			7.30		$	2,696
Exercisable at end of year	134,644			$	23.60			5.85		$	950

Schedule of Nonvested Stock Option Activity

A summary of nonvested activity in the Plan during the years ended December 31 follows:

2018	Number   of Shares			Weighted-Average   Exercise Price				Weighted-Average Remaining Contractual   Life in Years		Aggregate Intrinsic Value
Outstanding at beginning of year	336,798			$	25.54			7.88		$	1,747
Granted	101,000			32.29				9.51		5
Vested	(88,440	)		25.51				6.69		400
Forfeited	(16,359	)		26.07				6.71		96
Balance, December 31, 2018	332,999			$	27.62			7.75		$	1,018

2017	Number   of Shares			Weighted-Average   Exercise Price				Weighted-Average Remaining Contractual   Life in Years		Aggregate Intrinsic Value
Outstanding at beginning of year	250,700			$	23.73			7.65		$	69
Granted	159,598			27.80				9.40		480
Vested	(54,500	)		23.72				6.35		378
Forfeited	(19,000	)		25.58				8.59		109
Balance, December 31, 2017	336,798			$	25.54			7.88		$	1,747

Plan Information

Information related to the Plan is as follows for the years ended December 31:

		2018				2017				2016
Intrinsic value of options exercised		$	102			$	132			$	36
Cash received from options exercised		327				84				36
Tax benefit realized from options exercised		—				—				—
Weighted average fair value of options granted		6.69				7.91				4.30

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- Definition

Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options.

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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