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STOCK BASED COMPENSATION (Tables)
12 Months Ended
Dec. 31, 2023
Share-Based Payment Arrangement [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, granted through December 31, 2023:
 Authorized Awards Cumulatively Granted, Net of
Forfeitures and Expirations
TotalAuthorized
but
Unissued
Stock
Option  Awards
Restricted
Stock  Awards
2005 Plan 1,650,000 387,258 1,060,821 1,448,079 n/a
2018 Plan300,000 — 50,767 50,767 249,233 
2023 Plan1,126,886 — 9,640 9,640 1,117,246 
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
 202320222021
 (Dollars in thousands)
Stock based compensation expense
Restricted stock awards (1)$5,777 $3,791 $3,580 
Directors’ fee expense (2)
Restricted stock awards600 673 729 
Total stock based award expense$6,377 $4,464 $4,309 
Related tax benefits recognized in earnings$1,793 $1,255 $1,212 
(1)Inclusive of compensation expense associated with time-vested and performance-based restricted stock awards.
(2)Expense related to awards issued to directors is recognized as directors’ fees within other noninterest expense.
Schedule of Relevant Information Relating to Stock Options
The following table presents relevant information relating to the Company’s stock options for the periods presented:
 Years Ended December 31
 202320222021
 (Dollars in thousands, except per share data)
Fair value of stock options vested based on grant date fair value$— $— $— 
Intrinsic value of stock options exercised$139 $— $414 
Cash received from stock option exercises$257 $— $233 
Tax benefit realized on stock option exercises$39 $— $116 
Schedule of Stock Options
The following table presents a summary of stock option award activity for the year ended December 31, 2023:
 Outstanding
 Stock Option
Awards
 Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term (years)
Aggregate
Intrinsic
Value (1)
 (Dollars in thousands, except per share data)
Balance at January 1, 202320,000   $56.18 
Granted—   — 
Exercised(6,666)38.63 
Balance of options outstanding, vested and exercisable at December 31, 202313,334 (2)$64.94 3.40 years$62 
(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, 2023 of $66.57, which would have been received by in-the-money option holders had they all exercised their options as of that date.
(2)Represents vested stock options outstanding to Directors.

For the year ended December 31, 2023, all outstanding stock option awards are vested and there is no unrecognized compensation expense related to those options.
Schedule of Restricted Stock Granted
During the years ended December 31, 2023, 2022, and 2021 the Company made the following restricted stock award grants:
Shares GrantedPlanFair Value Vesting Period
Time-vested
2023
2/16/202377,525 2005 $80.65 Ratably over 3 years from grant date
2/16/202312,309 2005$80.65 Ratably over 5 years beginning on February 6, 2023
5/15/20231,080 2005$46.21 Ratably over 3 years from grant date
5/23/202312,410 2018$48.35 Immediately upon grant date
5/30/2023890 2023$45.09 Ratably over 3 years from grant date
9/15/20235,270 2023$51.44 Ratably over 5 years from grant date
9/15/20233,020 2023$51.44 Ratably over 3 years from grant date
12/15/2023460 2023$66.24 Ratably over 3 years from grant date
2022
2/17/202252,100 2005$84.70 Ratably over 5 years from grant date
5/24/20228,099 2018$80.39 Immediately upon grant date
9/15/2022646 2005$77.44 Ratably over 5 years from grant date
2021
2/18/202149,550 2005$81.84 Ratably over 5 years from grant date
5/25/20217,680 2018$78.18 Immediately upon grant date
9/1/2021640 2018$76.78 Immediately upon grant date
Performance-based
2/16/202332,200 2005$80.65 
The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2026.
2/17/202220,700 2005$84.70 
The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2025.
2/18/202118,900 2005$81.84 
The earlier of: the date on which it is determined if the performance goal has been achieved; or, March 31, 2024.
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 that vested during the periods presented:
 Years Ended December 31
 202320222021
 (Dollars in thousands)
Fair value of restricted stock awards upon vesting$5,003 $5,148 $5,754 
Schedule of Restricted Stock Awards
The following table presents a summary of restricted stock award activity for the year ended December 31, 2023:
 Outstanding Restricted Stock
Awards
 Weighted Average
Grant Price ($)
 
  
Balance at January 1, 2023191,412   $80.15 
Granted145,164   75.70 
Vested/released(70,194)71.94 
Forfeited (1)(49,175)  80.93 
Balance at December 31, 2023217,207 (2)$79.65 
Unrecognized compensation cost (in thousands) (2)$10,222 
Weighted average remaining recognition period (years)2.48 years
(1)Forfeited amounts are inclusive of 3,220 performance-based shares that were not vested based on performance objective criteria results, and 17,405 performance-based shares that were cancelled based on the departure of certain executives of the Company.
(2)There are no unvested restricted stock awards outstanding to Directors and therefore no related unrecognized compensation cost for Directors.