STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Summary of Stock-Based Compensation Expense

The amount that we recognized in stock-based compensation expense related to the issuance of stock options and RSUs is presented in the following table:

(Dollars in thousands)	2021		2020		2019
Stock options	$	832	$	950	$	873
RSUs	1,802		1,403		886
Total stock-based compensation expense	$	2,634	$	2,353	$	1,759

Stock Option Activity

The following summarizes stock options as of and for the year ended December 31, 2021:

	2021
	Number of Shares	Weighted-Average Exercise Price
Outstanding at beginning of year	1,396,794	$	15.36
Granted	43,908	38.82
Exercised	(316,682)	15.59
Forfeited	(6,660)	15.47
Expired	(3,160)	12.82
Outstanding at end of year	1,114,200	$	15.86
Exercisable at end of year	822,063	$	14.52
Weighted-average fair value of options granted during 2021		$	10.61
Weighted-average fair value of options granted during 2020		$	4.48
Weighted-average fair value of options granted during 2019		$	4.22

Schedule of Stock Option Valuation Assumptions

The fair value for the options was estimated at the grant date using a Black-Scholes option-pricing model with the following inputs:

	2021		2020		2019
Average risk-free interest rates	1.27	%	0.66	%	2.02	%
Weighted-average life (years)	7		7		7
Expected volatility	41.2	%	30.9	%	21.8	%
Expected dividend yield	1.08	%	2.20	%	0.84	%

Outstanding and Exercisable Options Information

The following summarizes information related to the total outstanding and exercisable stock options at December 31, 2021:

Options Outstanding				Options Exercisable
Total Options	Weighted-Average Exercise Price	Intrinsic Value (in millions)	Weighted-Average Remaining Life	Total Options	Weighted-Average Exercise Price	Intrinsic Value (in millions)	Weighted-Average Remaining Life
1,114,200	$15.86	$28.6	4.98	822,063	$14.52	$22.2	4.17

Summary of RSUs

A summary of the activity for our RSUs for the period indicated is presented in the following table:

	2021
	Shares	Weighted-Average Grant Date Fair Value
Balance at beginning of year	253,036	$	14.70
Granted	66,872	40.95
Vested	(77,050)	14.79
Forfeited	(952)	32.38
Balance at end of year	241,906	$	21.46
Weighted-average fair value of RSUs granted during 2021		$	40.95
Weighted-average fair value of RSUs granted during 2020		$	13.08
Weighted-average fair value of RSUs granted during 2019		$	15.50