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STOCK INCENTIVE PLAN (Tables)
 12 Months Ended
Dec. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of fair value weighted-average assumptions as of options

The fair value of options granted was determined using the following weighted-average assumptions as of grant date:

 

    2020   2019   2018  
Risk free interest rate     0.63 %   2.01 %   2.88 %
Expected life (in years)     7.5     7.5     7.5  
Expected stock price volatility     32.90 %   33.13 %   33.69 %
Dividend yield     4.26 %   4.28 %   3.61 %
Schedule of activity under stock incentive plan

The following table presents a summary of the activity under the 2010 and 2020 Stock Incentive Plans for the years ended December 31:

 

    2020     2019     2018  
    Shares     Weighted
Average
Exercise
Price		     Shares     Weighted
Average
Exercise
Price		     Shares     Weighted
Average
Exercise
Price		  
Outstanding, January 1     86,097     $ 12.92       102,760     $ 11.89       117,191     $ 10.79  
Granted     145,750       15.31       6,250       18.92       11,275       18.23  
Exercised     (19,298 )     9.39       (22,163 )     8.81       (24,056 )     8.96  
Forfeited     (10,205 )     15.19       (750 )     18.92       (1,650 )     20.02  
Outstanding, December 31     202,344     $ 14.89       86,097     $ 12.92       102,760     $ 11.89  
Exercisable at year end     21,113     $ 9.77       27,459     $ 9.03       32,219     $ 8.81
Schedule of information pertaining to options outstanding

The following table presents information pertaining to options outstanding at December 31, 2020.

 

Exercise
Price		   Number of
Options
Outstanding		   Weighted
Average
Remaining
Contractual
Life		   Weighted
Average
Exercise
Price of
Options
Outstanding		   Intrinsic
Value of
Options
Outstanding		   Number of
Options
Exercisable		   Weighted
Average
Exercise
Price of
Options
Exercisable		   Intrinsic
Value of
Options
Exercisable		 
$8.61    12,136    0.50   $8.61   $104,491    12,135   $8.61   $97,440 
$9.18    3,811    1.50   $9.18   $34,985    3,049   $9.18   $22,741 
$9.92    605    1.75   $9.92   $6,002    484   $9.92   $3,252 
$12.26    3,992    3.58   $12.26   $48,942    1,597   $12.26   $6,992 
$12.40    2,057    3.00   $12.40   $25,507    1,234   $12.40   $5,232 
$13.05    13,068    4.33   $13.05   $170,537    2,614   $13.05   $9,380 
$14.54    5,500    5.25   $14.54   $79,970    —   $14.54   $— 
$15.21    130,750    9.33   $15.21   $1,988,708    —   $15.21   $— 
$16.73    10,000    9.33   $16.73   $167,300    —   $16.73   $— 
$18.23    10,450    7.25   $18.23   $190,504    —   $18.23   $— 
$19.00    2,750    6.16   $19.00   $52,250    —   $19.00   $— 
$19.82    7,225    6.09   $19.82   $143,200    —   $19.82   $— 
      202,344    7.76   $14.89   $3,012,396    21,113   $9.77   $145,037