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SHARE-BASED COMPENSATION (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summary of the Activity for Restricted Stock Awards | A summary of the activity for restricted stock awards and restricted stock unit awards for the year follows:
| Number outstanding |  | Weighted average grant due fair value
Nonvested, beginning of year | 341,014 |  |  | $ | 24.25 |
Granted | 208,657 |  |  | 26.10 |
Vested | (116,374) |  |  | 23.51 |
Forfeited | (34,717) |  |  | 24.80 |
Nonvested, end of year | 398,580 |  |  | $ | 25.39 |
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions | The fair value of options granted during the year ended December 31, 2022 was determined using the following weighted-average assumptions as of the grant date.
|  | 2022
Dividend yield |  | 4.24 | %
Expected volatility |  | 23.81 | %
Risk free interest rate |  | 4.23 | %
Expected life |  | 6.25 years
Summary of our Stock Option Plan and Changes Made | The summary of our stock option activity for the year ended December 31, 2024 is as follows:
| 2024 |  |
| Shares |  | Weighted average exercise price |  | Weighted average remaining contractual life |  |  |  |  |  |
Option outstanding, beginning of year | 342,956 |  |  | $ | 26.49 |  |  |  |  |  |  |  |  |
Options granted | — |  |  | N/A |  |  |  |  |  |  |  |
Options exercised | (60,961) |  |  | 21.51 |  |  |  |  |  |  |  |  |
Options forfeited | (2,602) |  |  | 28.43 |  |  |  |  |  |  |  |  |
Options expired | (4,532) |  |  | 28.59 |  |  |  |  |  |  |  |  |
Options outstanding, end of year | 274,861 |  |  | 27.54 |  |  | 5.7 years |  |  |  |  |  |
Options exercisable | 182,190 |  |  | 27.08 |  |  | 4.6 years |  |  |  |  |  |
Options vested and expected to vest | 274,861 |  |  | 27.54 |  |  | 5.7 years |  |  |  |  |  |
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | The following table includes information related to stock option exercises for the years ended December 31, 2024, 2023, and 2022.
(dollars in thousands) | 2024 |  | 2023 |  | 2022
Cash received from options exercised | $ | 692 |  |  | $ | 783 |  |  | $ | 2,061 |
Intrinsic value from options exercised | 195 |  |  | 230 |  |  | 943 |
Tax benefit from options exercised | 41 |  |  | 48 |  |  | 198 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
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