STOCK OPTIONS (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Schedule of Valuation Assumptions

The fair value of options granted was determined using the following weighted-average assumptions as of grant date, for the years ended December 31:

	2019			2018			2017
Risk-free interest rate		2.11	%		2.87	%		2.00	%
Expected term (in years)		6.50			6.50			6.46
Expected stock price volatility		19.89	%		20.10	%		18.54	%
Dividend yield		2.36	%		1.76	%		1.61	%

Schedule of Stock Option Activity

A summary of activity in the Plan during the years ended December 31 follows:

2019	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding at beginning of year		537,872		$	26.49		6.97	$	2,088
Granted		39,000			29.89		9.40		117
Exercised		(37,672	)		24.55		4.11		314
Forfeited		(31,200	)		30.04		8.02		89
Balance, December 31, 2019		508,000		$	26.68		6.24	$	3,159
Exercisable at end of period		256,880		$	25.21		5.18	$	1,971

2018	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding at beginning of year		469,044		$	25.11		7.32	$	2,623
Granted		101,000			32.29		9.51		5
Exercised		(14,372	)		22.74		4.33		102
Forfeited		(17,800	)		26.07		6.71		96
Balance, December 31, 2018		537,872		$	26.49		6.97	$	2,088
Exercisable at end of period		206,312		$	24.48		5.65	$	1,113

Schedule of Nonvested Stock Option Activity

A summary of nonvested activity in the Plan during the years ended December 31 follows:

2019	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding at beginning of year		331,560		$	27.74		7.77	$	975
Granted		39,000			29.89		9.40		117
Vested		(91,040	)		26.71		6.02		563
Forfeited		(28,400	)		33.00		8.81		89
Balance, December 31, 2019		251,120		$	28.18		7.31	$	1,188

2018	Number of Shares			Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Outstanding at beginning of year		334,400		$	25.72		7.91	$	1,673
Granted		101,000			32.29		9.51		5
Vested		(88,440	)		25.51		6.69		400
Forfeited		(15,400	)		30.14		7.76		96
Balance, December 31, 2018		331,560		$	27.74		7.77	$	975

Summary of Restricted Stock Awards and Units Activity

A summary of activity in the Plan during years ended December 31, 2019 and 2018 follows:

2019	Number of Shares			Weighted-Average Grant Date Fair Value
Outstanding at beginning of year		959		$	31.57
Vested		480			31.57
Released		(1,439	)		31.57
Forfeited		—			—
Balance, December 31, 2019		—		$	—

2018	Number of Shares		Weighted-Average Grant Date Fair Value
Outstanding at beginning of year		—	$	—
Vested		959		31.57
Released		—		—
Forfeited		—		—
Balance, December 31, 2018		959	$	31.57

Summary of Nonvested Restricted Stock Awards and Units Activity

A summary of nonvested activity in the Plan during the twelve months ended December 31, 2019 and 2018 follows:

2019	Number of Shares			Weighted-Average Grant Date Fair Value
Outstanding at beginning of year		1,439		$	31.57
Granted		30,500			30.25
Vested		(480	)		31.57
Forfeited		—			—
Balance, December 31, 2019		31,459		$	30.29

2018	Number of Shares			Weighted-Average Grant Date Fair Value
Outstanding at beginning of year		2,398		$	31.57
Granted		—			—
Vested		(959	)		31.57
Forfeited		—			—
Balance, December 31, 2018		1,439		$	31.57

Plan Information

Information related to the Plan is as follows for the years ended December 31:

	2019		2018		2017
Intrinsic value of options exercised	$	314	$	102	$	132
Cash received from options exercised		925		327		84
Weighted average fair value of options granted		16.07		6.69		7.91