STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 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
Nine Months Ended September 30, 2024
Outstanding at beginning of year:		1,280,858		$	16.91			$	21,786
Granted		32,465			29.32				149
Exercised		(11,737	)		17.79				(189	)
Forfeited		—			—				—
Expired		—			—				—
Balance at end of period		1,301,586		$	17.21		4.48	$	21,746
Exercisable at end of period		1,182,975		$	16.37		4.14	$	20,761
Vested at end of period		1,182,975		$	16.37		4.14	$	20,761

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:

	Nine Months Ended September 30,
	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
Nine Months Ended September 30, 2024
Outstanding at beginning of year:		125,917		$	26.58
Granted		89,103			26.56
Vested		(23,478	)		27.38
Forfeited		(3,647	)		24.54
Balance at end of period		187,895		$	26.51