v3.25.2
SHARE-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Summary of the Activity for Restricted Stock Awards
A summary of the activity for restricted stock awards and restricted stock unit awards for the year follows:
Number
outstanding		Weighted
average
grant due
fair value
Nonvested, beginning of year341,014 $24.25 
Granted 208,657 26.10 
Vested(116,374)23.51 
Forfeited (34,717)24.80 
Nonvested, end of year398,580 $25.39 
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions The fair value of options granted during the year ended December 31, 2022 was determined using the following weighted-average assumptions as of the grant date.
2022
Dividend yield4.24 %
Expected volatility23.81 %
Risk free interest rate4.23 %
Expected life6.25 years
Summary of our Stock Option Plan and Changes Made
The summary of our stock option activity for the year ended December 31, 2024 is as follows:
2024
SharesWeighted
average
exercise price		Weighted
average
remaining
contractual
life
Option outstanding, beginning of year342,956 $26.49 
Options granted— N/A
Options exercised(60,961)21.51 
Options forfeited(2,602)28.43 
Options expired(4,532)28.59 
Options outstanding, end of year274,861 27.54 5.7 years
Options exercisable182,190 27.08 4.6 years
Options vested and expected to vest274,861 27.54 5.7 years
Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award
The following table includes information related to stock option exercises for the years ended December 31, 2024, 2023, and 2022.
(dollars in thousands)202420232022
Cash received from options exercised$692 $783 $2,061 
Intrinsic value from options exercised195 230 943 
Tax benefit from options exercised41 48 198