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SHARE-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2022
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 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |
Risk-free interest rate |  | 3.08 | % | 1.13 | %
Expected dividend yield |  | 3.33 | % | 4.00 | %
Expected term |  | 8.0 |  | 8.0 | ​
Expected volatility |  | 28.5 | % | 28.5 | %
​
Schedule of company's stock option activity | The following tables summarize our stock option activity during the years ended December 31, 2022 and 2021: Stock Options ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ | ​ | 2022 | ​ | 2021
​ | ​ | ​ | ​ | ​ | Weighted Average | ​ | ​ | ​ | ​ | Weighted Average
Stock Options |  | Shares |  | Exercise Price |  | Shares |  | Exercise Price
Outstanding at beginning of year | ​ | ​ | 1,279,833 | ​ | $ | 25.44 | ​ | ​ | 1,125,383 | ​ | $ | 25.62
Granted |  | ​ | 143,500 |  | ​ | 28.83 |  | ​ | 186,900 |  | ​ | 24.00
Exercised |  | ​ | (60,914) |  | ​ | 24.96 |  | ​ | (1,300) |  | ​ | 18.00
Forfeited or expired |  | ​ | (17,050) |  | ​ | 24.79 |  | ​ | (31,150) |  | ​ | 24.06
Outstanding at end of year |  | ​ | 1,345,369 | ​ | $ | 25.83 |  | ​ | 1,279,833 | ​ | $ | 25.44
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at end of year |  | ​ | 891,733 | ​ | $ | 26.36 |  | ​ | 768,522 | ​ | $ | 26.58
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average fair market value of options granted | ​ | $ | 6.78 | ​ | ​ | ​ |  | $ | 4.16 | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Weighted Average Remaining |  | ​ | ​
​ | ​ | Contractual Life (in Years) | ​ | Aggregate Intrinsic Value
Outstanding - December 31, 2022 |  | 5.3 | ​ | $ | 532,000
Exercisable - December 31, 2022 |  | 3.7 | ​ | $ | 234,000
​
Schedule of Non-vested stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Weighted Average |  | Weighted Average
​ | ​ | Number of Options | ​ | Exercise Price | ​ | Fair Value
Non-vested - December 31, 2020 |  | 485,371 | ​ | $ | 24.08 | ​ | $ | 3.48
Granted |  | 186,900 | ​ |  | 24.00 | ​ |  | 4.16
Vested |  | (137,180) | ​ |  | 25.65 | ​ |  | 3.83
Forfeited |  | (23,780) | ​ |  | 23.97 | ​ |  | 3.48
Non-vested - December 31, 2021 |  | 511,311 | ​ | $ | 23.63 | ​ | $ | 3.64
Granted |  | 143,500 | ​ |  | 28.83 | ​ |  | 6.78
Vested |  | (189,375) | ​ |  | 25.08 | ​ |  | 3.87
Forfeited |  | (11,800) | ​ |  | 23.20 | ​ |  | 3.65
Non-vested - December 31, 2022 |  | 453,636 | ​ | $ | 24.76 | ​ | $ | 4.55
​
Summary of Outstanding and exercisable stock options | The following table summarizes information about outstanding and exercisable stock options at December 31, 2022:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Options Outstanding | ​ | Options Exercisable
​ | ​ | ​ | ​ | Weighted | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Number of | ​ | Remaining | ​ | Weighted | ​ | Number of | ​ | Weighted
​ | ​ | Options | ​ | Contractual Life | ​ | Average | ​ | Options | ​ | Average
Range of Exercise Prices |  | Outstanding |  | (in Years) |  | Exercise Price |  | Exercisable |  | Exercise Price
$18.00 | ​ | 168,320 | ​ | 7.7 | ​ | $ | 18.00 | ​ | 74,150 | ​ | $ | 18.00
$23.38 to $25.86 |  | 736,466 |  | 3.9 | ​ | $ | 24.71 |  | 540,776 | ​ | $ | 25.03
$27.94 to $37.22 |  | 440,583 |  | 6.5 | ​ | $ | 30.71 |  | 276,807 | ​ | $ | 31.19
​ |  | 1,345,369 |  | 5.3 | ​ | $ | 25.83 |  | 891,733 | ​ | $ | 26.36
​
Schedule of Company's stock option exercise activity | The following table summarizes our stock option activity for the years ended December 31:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021
​ | ​ | (Dollars in thousands)
Total intrinsic value of stock options exercised | ​ | $ | 251 | ​ | $ | 8
Net proceeds from stock option exercises | ​ | $ | 293 | ​ | $ | 2
Income tax benefit from the exercise of stock options | ​ | $ | 65 | ​ | $ | 2
Total fair value of stock options vested | ​ | $ | 734 | ​ | $ | 525
​
Schedule of company's restricted stock award | The following table summarizes our restricted stock award activity during the years ended December 31, 2021 and 2022:
​ | ​ | ​ | ​ | ​ | ​
​ |  | Shares of Restricted |  | Weighted Average
​ | ​ | Stock | ​ | Grant Date Fair Value
Non-vested - December 31, 2020 |  | 72,490 | ​ | $ | 23.77
Issued |  | 36,325 | ​ |  | 24.00
Vested |  | (30,345) | ​ |  | 25.75
Forfeited | ​ | — | ​ |  | —
Non-vested - December 31, 2021 |  | 78,470 | ​ | $ | 23.11
Issued |  | 27,620 | ​ |  | 28.83
Vested |  | (34,282) | ​ |  | 24.46
Forfeited |  | — | ​ |  | —
Non-vested - December 31, 2022 | ​ | 71,808 | ​ | $ | 24.67
​

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