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STOCK BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Cumulatively Granted Stock Options and Restricted Stock Awards, Net of Forfeitures and Expirations The following table presents the amount of cumulatively granted stock option awards and restricted stock awards, net of forfeitures and expirations, through December 31, 2018:
 
 
 
Authorized Awards
Cumulatively Granted, Net of
Forfeitures and Expirations
 
Total
 
Authorized
but
Unissued
 
 
Stock
Option  Awards
 
Restricted
Stock  Awards
 
 
 
2005 Plan
 
1,650,000

387,258

 
750,931

 
1,138,189

 
511,811

 
 
2010 Plan
 
314,600

46,500

 
93,245

 
139,745

 
174,855

(1)
 
2018 Plan
 
300,000

—

 
6,000

 
6,000

 
294,000

(1)
Schedule of Pre-tax Compensation Expense and Related Tax Benefits The following table presents the pre-tax expense associated with stock option and restricted stock awards and the related tax benefits recognized for the periods presented:
 
Years Ended December 31
 
2018
 
2017
 
2016
 
(Dollars in thousands)
Stock based compensation expense
 
 
 
 
 
Restricted stock awards(1)
$
3,299

 
$
2,730

 
$
2,590

Directors’ fee expense
 
 
 
 
 
Stock options
66

 
76

 
72

Restricted stock awards
860

 
527

 
303

Total stock based award expense
$
4,225

 
$
3,333

 
$
2,965

Related tax benefits recognized in earnings
$
1,188

 
$
1,362

 
$
1,211

(1)
Inclusive of compensation expense associated with time-vested and performance-based restricted stock awards.
Schedule of Stock Options Granted The following table presents the awards granted by the Company of nonqualified options to purchase shares of common stock for the periods presented:
 
Years Ended December 31
 
2018
 
2017
 
2016
Date of grant
4/3/2018

 
11/7/2017

 
7/14/2016

2/20/2016

Plan
2010

 
2010

 
2010

2010

Options granted
5,000

 
5,000

 
5,000

5,000

Vesting period (beginning on the grant date)
21 months

 
14 months

 
18 months

22 months

Expiration date
4/3/2028

 
11/7/2027

 
7/14/2026

2/20/2026

Expected volatility
21.15
%
 
20.80
%
 
32.28
%
32.44
%
Expected life (years)
5.5

 
5.5

 
5.5

5.5

Expected dividend yield
1.94
%
 
1.87
%
 
2.37
%
2.28
%
Risk free interest rate
2.62
%
 
2.02
%
 
1.14
%
1.29
%
Fair value per option
$
13.46

 
$
12.43

 
$
11.46

$
10.59

 
Schedule of Relevant Information Relating to Stock Options The following table presents relevant information relating to the Company’s stock options for the periods presented:
 
Years Ended December 31
 
2018
 
2017
 
2016
 
(Dollars in thousands, except per share data)
Fair value of stock options vested based on grant date fair value
$
85

 
$
72

 
$
37

Intrinsic value of stock options exercised
$
1,525

 
$
1,082

 
$
494

Cash received from stock option exercises
$
1,024

 
$
918

 
$
680

Tax benefit realized on stock option exercises
$
429

 
$
442

 
$
204

Weighted average grant date fair value of options granted (per share)
$
13.46

 
$
12.43

 
$
11.03
Schedule of Stock Options summary of stock option award activity for the year ended December 31, 2018.
 
Outstanding
 
Nonvested
 
 
 
Stock Option
Awards
 
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic
Value (1)
 
Stock
Option
Awards
 
 
Weighted
Average
Grant Date
Fair Value
 
 
 
(Dollars in thousands, except per share data)
 
 
Balance at January 1, 2018
84,000

  
 
$
32.16

 
 
 
 
 
4,999

 
 
$
12.11

 
 
Granted
5,000

  
 
70.85

 
 
 
 
 
5,000

 
 
13.46

 
 
Exercised
(34,500
)
 
 
29.67

 
 
 
 
 
n/a

 
 
n/a

 
 
Vested
n/a

 
 
n/a

 
 
 
 
 
(6,667
)
 
 
12.70

 
 
Forfeited
—

 
 
—

 
 
 
 
 
—

 
 
—

 
 
Expired
—

 
 
—

 
 
 
 
 
—

 
 
—

 
 
Balance at December 31, 2018
54,500

(2)
 
$
37.28

 
4.02 years
 
$
1,776

 
3,332

 
 
$
12.94

 
 
Options outstanding and expected to vest at December 31, 2018
54,500

(3)
 
$
37.28

 
4.02 years
 
$
1,776

 
 
 
 
 
 
 
Options exercisable at December 31, 2018
51,168

(4)
 
$
35.12

 
3.69 years
 
$
1,776

 
 
 
 
 
 
 
Unrecognized compensation cost
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
23

Weighted average remaining recognition period (years)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
1.00

 
(1)
The aggregate intrinsic value represents the total pre-tax intrinsic value, based on the average of the high price and low price at which the Company’s common stock traded on December 31, 2018 of $69.72, which would have been received by in-the-money option holders had they all exercised their options as of that date.
(2)Inclusive of 32,500 stock options outstanding to Directors.
(3) Inclusive of 32,500 vested stock options and expected to vest to Directors.
(4) Inclusive of 29,168 vested stock options outstanding to Directors.
Schedule of Restricted Stock Granted The Company grants both time-vested restricted stock awards as well as performance-based restricted stock awards. During the years ended December 31, 2018, 2017, and 2016 the Company has made the following restricted stock award grants:
 
Shares Granted
 
Plan
 
Fair Value (1)
 
Vesting Period
Time-vested
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
2/15/2018
39,950

 
2005
 
$
71.75

 
Ratably over 5 years from grant date
2/27/2018
1,150

 
2005
 
$
72.60

 
Ratably over 5 years from grant date
5/15/2018
530

 
2005
 
$
74.00

 
Ratably over 5 years from grant date
5/22/2018
6,000

 
2018
 
$
76.58

 
Immediately upon grant date
11/15/2018
560

 
2005
 
$
77.78

 
Ratably over 5 years from grant date
 
 
 
 
 
 
 
 
2017
 
 
 
 
 
 
 
2/13/2017
1,200

 
2005
 
$
62.53

 
Ratably over 5 years from grant date
2/16/2017
34,150

 
2005
 
$
63.10

 
Ratably over 5 years from grant date
3/31/2017
500

 
2005
 
$
65.63

 
Ratably over 5 years from grant date
4/3/2017
1,500

 
2005
 
$
64.14

 
Once on November 30, 2017 (2)
5/15/2017
1,000

 
2005
 
$
64.03

 
Ratably over 5 years from grant date
5/23/2017
7,000

 
2010
 
$
61.95

 
At the end of 5 years from grant date (3)
6/15/2017
950

 
2005
 
$
66.18

 
Ratably over 5 years from grant date
 
 
 
 
 
 
 
 
2016
 
 
 
 
 
 
 
2/11/2016
51,475

 
2005
 
$
41.96

 
Ratably over 5 years from grant date
3/1/2016
600

 
2005
 
$
44.37

 
Ratably over 5 years from grant date
5/24/2016
8,700

 
2010
 
$
48.34

 
Once on May 24, 2021 (3)
9/19/2016
800

 
2005
 
$
52.92

 
Ratably over 5 years from grant date
11/7/2016
500

 
2005
 
$
54.28

 
Ratably over 5 years from grant date
11/14/2016
725

 
2010
 
$
63.43

 
Once on May 24, 2021 (3)
 
 
 
 
 
 
 
 
Performance-based
 
 
 
 
 
 
 
2/15/2018
16,300

 
2005
 
$
71.75

 
The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2021.
2/16/2017
14,400

 
2005
 
$
63.10

 
The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2020.
2/11/2016
20,450

 
2005
 
$
41.96

 
The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2019.
 
(1)
The fair value of the restricted stock awards are based upon the average of the high and low prices at which the Company’s common stock traded on the date of grant. The holders of time-vested restricted stock awards participate fully in the rewards of stock ownership of the Company, including voting and dividend rights. The holders of performance-based restricted stock awards do not participate in the rewards of stock ownership of the Company until vested. The holders of all restricted stock awards are not required to pay any consideration to the Company for the awards.
(2)
This restricted stock grant fully vested upon an employee's termination, on November 30, 2017.
(3)
These restricted stock grants will vest on May 24, 2021, or earlier if the director ceases to be a director for any reason other than cause, such as, for example, by retirement.
Schedule of Share-based Compensation, Fair Value of Restricted Stock Awards Vesting [Table Text Block] The following table presents the fair value of restricted stock awards vesting for the periods presented:
 
Years Ended December 31
 
2018
 
2017
 
2016
 
(Dollars in thousands)
Fair value of restricted stock awards upon vesting
$
6,277

 
$
5,717

 
$
3,019
Schedule of Restricted Stock Awards summary of restricted stock award activity for the year ended December 31, 2018:
 
Outstanding Restricted Stock
Awards
 
 
Weighted Average
Grant Price ($)
 
 
 
(Dollars in thousands, except per share data)
 
 
Balance at January 1, 2018
225,965

  
 
$
46.18

 
 
Granted
64,490

  
 
72.28

 
 
Vested/released
(86,219
)
 
 
43.39

 
 
Forfeited
(2,130
)
  
 
53.78

 
 
Balance at December 31, 2018
202,106

(1)
 
$
55.62

 
 
Unrecognized compensation cost (inclusive of directors’ fees)
 
 
 
 
 
$
6,911

Weighted average remaining recognition period (years)
 
 
 
 
 
2.96

 
(1)
Inclusive of 23,385 restricted stock awards outstanding to Directors.