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SHARE-BASED COMPENSATION PLANS (Tables) | 12 Months Ended
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Dec. 31, 2024
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 granted in 2023: ​
​ | ​ | ​ | ​
​ |  | 2023 |
Risk-free interest rate |  | 4.31 | %
Expected dividend yield |  | 3.88 | %
Expected term |  | 8.0 | ​
Expected volatility |  | 31.0 | %
Schedule of stock option activity | The following tables summarize our stock option activity during the years ended December 31, 2024 and 2023: Stock Options ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Years ended December 31,
​ | ​ | 2024 | ​ | 2023
​ | ​ | ​ | ​ | ​ | Weighted Average | ​ | ​ | ​ | ​ | Weighted Average
Stock Options |  | Shares |  | Exercise Price |  | Shares |  | Exercise Price
Outstanding at beginning of year | ​ | ​ | 967,217 | ​ | $ | 26.22 | ​ | ​ | 1,345,369 | ​ | $ | 25.83
Granted |  | ​ | — |  | ​ | — |  | ​ | 149,200 |  | ​ | 25.79
Exercised |  | ​ | (389,597) |  | ​ | 26.53 |  | ​ | (487,331) |  | ​ | 25.02
Forfeited or expired |  | ​ | (13,860) |  | ​ | 26.61 |  | ​ | (40,021) |  | ​ | 26.31
Outstanding at end of year |  | ​ | 563,760 | ​ | $ | 25.98 |  | ​ | 967,217 | ​ | $ | 26.22
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Exercisable at end of year |  | ​ | 281,429 | ​ | $ | 26.50 |  | ​ | 524,829 | ​ | $ | 27.30
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average fair market value of options granted | ​ | $ | — | ​ | ​ | ​ |  | $ | 6.63 | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Weighted Average Remaining |  | ​ | ​
​ | ​ | Contractual Life (in Years) | ​ | Aggregate Intrinsic Value
Outstanding - December 31, 2024 |  | 6.5 | ​ | $ | 6,521,000
Exercisable - December 31, 2024 |  | 5.3 | ​ | $ | 3,109,000
​
Schedule of non-vested stock options | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted Average | ​ | Weighted Average
​ | ​ | Number of Options | ​ | Exercise Price | ​ | Fair Value
Non-vested - December 31, 2022 | ​ | 453,636 | ​ | $ | 24.76 | ​ | $ | 4.55
Granted | ​ | 149,200 | ​ |  | 25.79 | ​ |  | 6.63
Vested | ​ | (147,128) | ​ |  | 25.26 | ​ |  | 4.44
Forfeited | ​ | (13,320) | ​ |  | 25.24 | ​ |  | 4.91
Non-vested - December 31, 2023 | ​ | 442,388 | ​ | $ | 24.93 | ​ | $ | 5.28
Issued | ​ | — | ​ | ​ | — | ​ | ​ | —
Vested | ​ | (150,057) | ​ | ​ | 23.38 | ​ | ​ | 4.52
Forfeited | ​ | (10,000) | ​ | ​ | 25.60 | ​ | ​ | 5.73
Non-vested - December 31, 2024 | ​ | 282,331 | ​ | $ | 25.46 | ​ | $ | 5.66
Summary of outstanding and exercisable stock options | The following table summarizes information about outstanding and exercisable stock options at December 31, 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 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 | ​ | 92,020 | ​ | 5.7 | ​ | $ | 18.00 | ​ | 63,670 | ​ | $ | 18.00
$23.38 to $25.79 |  | 272,069 |  | 7.4 | ​ | $ | 24.79 |  | 96,996 | ​ | $ | 24.14
$27.94 to $37.22 |  | 199,671 |  | 5.6 | ​ | $ | 31.28 |  | 120,763 | ​ | $ | 32.89
​ |  | 563,760 |  | 6.5 | ​ | $ | 25.98 |  | 281,429 | ​ | $ | 26.50
Schedule of stock option exercise activity | The following table summarizes our stock option activity for the years ended December 31:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
​ | ​ | (Dollars in thousands)
Total intrinsic value of stock options exercised | ​ | $ | 3,706 | ​ | $ | 1,537
Net proceeds from stock option exercises | ​ | $ | 51 | ​ | $ | 103
Income tax benefit from the exercise of stock options | ​ | $ | 964 | ​ | $ | 400
Total fair value of stock options vested | ​ | $ | 678 | ​ | $ | 653
Schedule of restricted stock award activity | The following table summarizes our restricted stock award activity during the years ended December 31, 2023 and 2024:
​ | ​ | ​ | ​ | ​ | ​
​ |  | Shares of Restricted |  | Weighted Average
​ | ​ | Stock | ​ | Grant Date Fair Value
Non-vested - December 31, 2022 |  | 71,808 | ​ | $ | 24.67
Issued |  | 27,700 | ​ |  | 25.79
Vested |  | (28,243) | ​ |  | 23.60
Forfeited | ​ | (2,175) | ​ |  | 25.13
Non-vested - December 31, 2023 |  | 69,090 | ​ | $ | 25.54
Issued |  | 54,855 | ​ | ​ | 34.65
Vested |  | (30,255) | ​ | ​ | 24.86
Forfeited |  | (725) | ​ | ​ | 27.54
Non-vested - December 31, 2024 | ​ | 92,965 | ​ | $ | 31.12

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