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STOCK-BASED COMPENSATION PLANS (Tables)
3 Months Ended
Mar. 31, 2021
STOCK-BASED COMPENSATION PLANS  
Summary of stock-based compensation expense

Three Months Ended March 31, 

    

2021

    

2020

(dollars in thousands)

Restricted stock units

$

114

$

67

Performance restricted stock units

15

Total awards classified as equity

129

67

Stock appreciation rights

130

(335)

Total stock-based compensation expense (benefit)

$

259

$

(268)

Schedule of the summary of outstanding restricted stock units

Three Months Ended March 31, 

2021

2020

Weighted

Weighted

Average

Average

Restricted

Grant Date

Restricted

Grant Date

    

Stock Units

    

Fair Value

    

Stock Units

    

Fair Value

Beginning balance

71,000

$

18.98

$

Granted

46,347

15.53

73,150

19.03

Vested

(20,225)

18.86

Forfeited

Ending balance

97,122

$

17.36

73,150

$

19.03

A further summary of restricted stock units as of March 31, 2021, is as follows:

Weighted Average

Restricted

Remaining

Grant Date Fair Values

    

Stock Units

    

Contractual Term

$ 15.53

46,347

2.8

years

$ 19.03

50,775

2.8

years

Schedule of the status of stock appreciation rights and changes

Three Months Ended March 31, 

2021

2020

    

Stock
Appreciation
Rights

    

Weighted
Average
Grant Date
Assigned Value

    

Stock
Appreciation
Rights

    

Weighted
Average
Grant Date
Assigned Value

Beginning balance

105,570

$

16.32

110,160

$

16.32

Granted

Exercised

Expired

(1,530)

16.32

Forfeited

Ending balance

104,040

$

16.32

110,160

$

16.32

A further summary of stock appreciation rights as of March 31, 2021, is as follows:

Weighted Average

Stock Appreciation Rights

Remaining

Grant Date Assigned Values

    

Outstanding

    

Exercisable

    

Contractual Term

$ 16.32

104,040

85,680

7.9

years

Schedule of assumptions used in valuing stock appreciation rights

March 31, 

December 31, 

    

2021

    

2020

Risk-free interest rate

1.55

%

0.80

%

Expected volatility

34.96

%

34.72

%

Expected life (in years)

8.4

8.7

Expected dividend yield

3.50

%

3.96

%

Performance restricted stock units  
STOCK-BASED COMPENSATION PLANS  
Schedule of the summary of outstanding restricted stock units

Three months ended March 31, 

2021

2020

Maximum

Maximum

Awarded

Weighted

Awarded

Weighted

Performance

Average

Performance

Average

Restricted

Grant Date

Restricted

Grant Date

    

Stock Units

    

Fair Value

    

Stock Units

    

Fair Value

Beginning balance

$

$

Granted

43,046

15.53

Vested

Forfeited

Ending balance

43,046

$

15.53

$

A further summary of performance restricted stock units as of March 31, 2021, is as follows:

Maximum

Awarded

Performance

Weighted Average

Restricted

Remaining

Grant Date Fair Values

    

Stock Units

    

Contractual Term

$ 15.53

43,046

2.9

years