SHARE-BASED PAYMENTS (Tables)

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Fair Value Assumptions of Stock Options

The fair value of options granted during the three months ended March 31, 2019, was determined using the following weighted-average assumptions as of grant date.

	March 31, 2019
Risk-free interest rate	2.31	%
Expected term	7 years
Expected stock price volatility	30.44	%
Dividend yield	0.50	%

Summary of Company's Stock Option Activities

A summary of the activity in the plans for the three months ended March 31, 2020 follows:  

	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding at January 1, 2020	1,502,070	$	22.39
Granted	—	—
Exercised	(37,416)	11.19
Forfeited, expired, or cancelled	(6,274)	25.24
Outstanding at period end	1,458,380	$	26.24	6.30	$	2,921
Vested or expected to vest	1,385,461	$	26.24	5.77	$	2,775
Exercisable at period end	335,225	$	11.68	5.77	$	2,921

Summary of Stock Options Exercised

	For the Three Months Ended March 31,
	2020		2019
Stock options exercised:
Intrinsic value of options exercised	$	943	$	623
Cash received from options exercised	417		524
Tax benefit realized from option exercises	210		113

Summary of Activity for Nonvested Restricted Share Awards

A summary of activity for non-vested restricted share awards for the three months ended March 31, 2020 is as follows:

Non-vested Shares	Shares	Weighted- Average Grant- Date Fair Value
Non-vested at January 1, 2020	90,992	$	32.54
Granted	—	—
Vested	(468)	28.52
Forfeited	(122)	31.18
Non-vested at March 31, 2020	90,402

Summary of Vesting Criteria for Restricted Stock Units

The Company began granting restricted stock units in 2019. The following table outlines restricted stock units that were outstanding, grouped by similar vesting criteria, as of March 31, 2020:

Grant year	Units Awarded	Service period in years	Period in which units to be settled into shares of common stock
2019	2,870	5.0	2024
2019	152,048	3.0	2022
2020	120,824	3.0	2023