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SHARE-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2020
SHARE-BASED COMPENSATION PLANS |
Schedule of Weighted average stock options assumptions | The following weighted-average assumptions were used to determine compensation expense related to stock options in 2020 and 2019: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019 |
Risk-free interest rate |  | 0.54 | % | 1.55 | %
Expected dividend yield |  | 5.33 | % | 4.11 | %
Expected term |  | 8.0 |  | 8.0 | ​
Expected volatility |  | 26.4 | % | 24.0 | %
Schedule of Company's stock option activity | The following tables summarize stock option activity under the Company’s plans: Stock Options ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ | ​ | 2020 | ​ | 2019
​ | ​ | ​ | ​ | ​ | Weighted Average | ​ | ​ | ​ | ​ | Weighted Average
Stock Options |  | Shares |  | Exercise Price |  | Shares |  | Exercise Price
Outstanding at beginning of year | ​ | ​ | 1,176,770 | ​ | $ | 27.14 | ​ | ​ | 1,173,620 | ​ | $ | 27.96
Granted |  | ​ | 188,600 |  | ​ | 18.00 |  | ​ | 192,650 |  | ​ | 23.45
Exercised |  | ​ | — |  | ​ | — |  | ​ | (18,795) |  | ​ | 27.75
Forfeited or expired |  | ​ | (239,987) |  | ​ | 27.09 |  | ​ | (170,705) |  | ​ | 28.56
Outstanding at end of year |  | ​ | 1,125,383 | ​ | $ | 25.62 |  | ​ | 1,176,770 | ​ | $ | 27.14
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at end of year |  | ​ | 640,012 | ​ | $ | 26.77 |  | ​ | 703,030 | ​ | $ | 26.71
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average fair market value of options granted | ​ | $ | 2.01 | ​ | ​ | ​ |  | $ | 3.32 | ​ |  |
​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Weighted Average Remaining |  | ​ | ​
​ | ​ | Contractual Life (in Years) | ​ | Aggregate Intrinsic Value
Outstanding - December 31, 2020 |  | 5.4 | ​ | $ | —
Exercisable - December 31, 2020 |  | 3.1 | ​ | $ | —
​
Schedule of Non-vested stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted Average |  | Weighted Average
​ | ​ | Number of Options | ​ | Exercise Price | ​ | Fair Value
Non-vested - December 31, 2018 |  | 481,613 | ​ | $ | 29.46 | ​ | $ | 4.49
Granted |  | 192,650 | ​ |  | 23.45 | ​ |  | 3.32
Vested |  | (193,838) | ​ |  | 27.59 | ​ |  | 3.87
Forfeited |  | (6,685) | ​ |  | 29.94 | ​ |  | 4.87
Non-vested - December 31, 2019 |  | 473,740 | ​ | $ | 27.77 | ​ | $ | 4.26
Granted |  | 188,600 | ​ |  | 18.00 | ​ |  | 2.01
Vested |  | (165,824) | ​ |  | 27.48 | ​ |  | 3.99
Forfeited |  | (11,145) | ​ |  | 27.54 | ​ |  | 4.27
Non-vested - December 31, 2020 |  | 485,371 | ​ | $ | 24.08 | ​ | $ | 3.48
Summary of Outstanding and exercisable stock options | The following table summarizes information about outstanding and exercisable stock options at December 31, 2020:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options Outstanding | ​ | Options Exercisable
​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | Weighted | ​ | ​ | ​ | Weighted
​ | ​ | Number of | ​ | Remaining | ​ | Average | ​ | Number of | ​ | Average
​ | ​ | Options | ​ | Contractual Life | ​ | Exercise | ​ | Options | ​ | Exercise
Range of Exercise Prices |  | Outstanding |  | (in Years) |  | Price |  | Exercisable |  | Price
$18.00 | ​ | 188,600 | ​ | 9.7 | ​ | $ | 18.00 | ​ | — | ​ | $ | —
$23.38 to $25.86 |  | 623,050 |  | 3.4 | ​ | $ | 24.93 |  | 477,884 | ​ | $ | 25.40
$27.04 to $37.22 |  | 313,733 |  | 7.1 | ​ | $ | 31.55 |  | 162,128 | ​ | $ | 30.80
​ |  | 1,125,383 |  | 5.4 | ​ | $ | 25.62 |  | 640,012 | ​ | $ | 26.77
Schedule of Company's stock option exercise activity | The following table summarizes stock option activity for the years ended December 31:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2020 |  | 2019
​ | ​ | (Dollars in thousands)
Total intrinsic value of stock options exercised | ​ | $ | — | ​ | $ | 87
Net proceeds from stock option exercises | ​ | $ | — | ​ | $ | 161
Income tax benefit from the exercise of stock options | ​ | $ | — | ​ | $ | 23
Total fair value of stock options vested | ​ | $ | 661 | ​ | $ | 750
Schedule of Company's restricted stock award | The following table summarizes restricted stock award activity during the years ended December 31, 2019 and 2020:
​ | ​ | ​ | ​ | ​ | ​
​ |  | Shares of Restricted |  | Weighted Average
​ | ​ | Stock | ​ | Grant Date Fair Value
Non-vested - December 31, 2018 |  | 61,480 | ​ | $ | 30.74
Issued |  | 31,000 | ​ | ​ | 23.48
Vested |  | (23,745) | ​ |  | 29.10
Forfeited | ​ | — | ​ |  | —
Non-vested - December 31, 2019 |  | 68,735 | ​ | $ | 28.04
Issued |  | 30,800 | ​ |  | 18.00
Vested |  | (27,045) | ​ |  | 28.04
Forfeited |  | — | ​ |  | —
Non-vested - December 31, 2020 | ​ | 72,490 | ​ | $ | 23.77

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