STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2024

STOCK-BASED COMPENSATION [Abstract]

Summary of Stock Option Activity

A summary of activity in the Plan during the period indicated 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
Three Months Ended March 31, 2024
Outstanding at beginning of year:		1,280,858		$	16.91			$	12,767
Granted		32,465			29.32				—
Exercised		(3,565	)		20.01				(24	)
Forfeited		—			—				—
Expired		—			—				—
Balance, March 31, 2024		1,309,758		$	17.21		4.98	$	12,743
Exercisable at end of period		1,176,105		$	16.27		4.61	$	12,411
Vested at end of period		1,176,105		$	16.27		4.61	$	12,411

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:

	Three Months Ended March 31,
	2024		2023
Expected volatility	40.45%		39.13% to 39.68%
Expected dividend yield		1.80%		1.74% to 1.90%
Expected term (years)	6.1		6.1 to 6.3
Risk-free interest rate	3.94%		3.91% to 3.98%
Weighted average grant date fair value	$	11.10	$	10.26

Summary of Activity of Restricted Stock Units

A summary of activity in the Plan during the period indicated is presented in the table below:

	Number of Shares			Weighted-Average Grant Date Fair Value
Three Months Ended March 31, 2024
Outstanding at beginning of year:		125,917		$	26.58
Granted		85,403			26.54
Vested		(19,778	)		27.45
Forfeited		(3,169	)		24.34
Balance, March 31, 2024		188,373		$	26.50