STOCK-BASED COMPENSATION PLAN (Tables)

12 Months Ended

Dec. 31, 2019

Share-based Payment Arrangement [Abstract]

Summary of the nonvested restricted stock awards outstanding and the assumptions used to estimate the fair value of the awards

The following table summarizes the nonvested restricted stock awards outstanding at December 31, 2019, and the assumptions used to estimate the fair value of the awards:

	Grants	Shares Outstanding	Fair Value Per Share		Expected Volatility		Risk-Free Interest Rate
Officers & Key Employees -	2017 - TSR	40,226	$	32.17	20.8	%	1.47	%
	2017 - CEGR, Time	53,373	33.69		N/A		N/A
	2018 - TSR	50,094	$	31.05	21.9	%	2.00	%
	2018 - CEGR, Time	82,429	$	31.23	N/A		N/A
	2019 - TSR	38,934	$	32.88	23.2	%	2.40	%
	2019 - CEGR, Time	137,091	$	31.38	N/A		N/A
Directors -	2019	30,961	$	27.07	N/A		N/A

Summary of the total stock-based compensation cost for the period

The following table summarizes the total stock-based compensation cost for the years ended December 31 (in thousands):

	2019		2018		2017
Officers & Key Employees	$	4,371	$	3,321	$	3,232
Directors	838		823		1,022
Total Cost	5,209		4,144		4,254
Capitalized	(275)		(386)		(288)
Net Expense	$	4,934	$	3,758	$	3,966

Summary of information regarding restricted stock award activity during the period excluding accrued dividend equivalents

The following table summarizes information regarding restricted stock award activity during 2019, excluding accrued dividend equivalents:

	Officers & Other Key Employees	Directors	Weighted Average Fair Value
Nonvested Shares Outstanding, January 1, 2019	411,809	26,416	$	29.57
Granted	184,791	30,961	$	31.03
Vested	(148,213)	(26,416)	$	26.07
Cancelled/Forfeited	(46,241)	—	$	31.57
Nonvested Shares Outstanding, December 31, 2019	402,146	30,961	$	31.50