STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2023

STOCK-BASED COMPENSATION [Abstract]

Summary of Stock Option Activity

A summary of activity in the Plan during the year ended December 31, 2023 is presented in the table below (dollars in thousands, except per share data):

	Number of Shares			Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life in Years		Aggregate Intrinsic Value
Year Ended December 31, 2023
Outstanding at beginning of year:		1,354,189		$	16.11			$	17,416
Granted		47,816			27.46				72
Exercised		(117,292	)		11.96				(1,994	)
Forfeited		(1,125	)		20.19				(10	)
Expired		(2,730	)		17.47				(31	)
Balance, December 31, 2023		1,280,858		$	16.91		5.11	$	15,453
Exercisable at end of period		1,082,939		$	15.80		4.68	$	14,265
Vested at end of period		1,082,939		$	15.80		4.68	$	14,265

Summary of Assumptions Used to Calculate Fair Value of Awards

A summary of assumptions used to calculate the fair values of the awards granted during the periods noted is presented below:

	Year Ended December 31,
	2023		2022		2021
Expected volatility	39.13% to 39.68%		40.20% to 40.29%			41.20% to 41.32%
Expected dividend yield		1.74% to 1.90%		1.30%		1.00%
Expected term (years)	6.1 to 6.3		6.1 to 6.3			6.1 to 6.2
Risk-free interest rate	3.91% to 3.98%		1.56% to 1.95%			0.52% to 0.83%
Weighted average grant date fair value	$	10.26	$	10.54	$	7.07

Summary of Activity of Restricted Stock Units

A summary of activity in the Plan during the year ended December 31, 2023 is presented in the table below:

	Number of Shares			Weighted-Average Grant Date Fair Value
Year Ended December 31, 2023
Outstanding at beginning of year:		84,342		$	26.76
Granted		85,127			25.33
Exercised		(38,141	)		24.40
Forfeited		(5,411	)		25.22
Balance, December 31, 2023		125,917		$	26.58