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STOCK-BASED COMPENSATION PLANS (Tables)
9 Months Ended
Sep. 30, 2021
STOCK-BASED COMPENSATION PLANS  
Summary of stock-based compensation expense

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2021

    

2020

    

2021

    

2020

(dollars in thousands)

Restricted stock units

$

153

$

100

$

415

$

263

Performance restricted stock units

75

123

Total awards classified as equity

228

100

538

263

Stock appreciation rights

(87)

(75)

43

(303)

Total stock-based compensation expense (benefit)

$

141

$

25

$

581

$

(40)

Schedule of the summary of outstanding restricted stock units

Three Months Ended September 30, 

2021

2020

Weighted

Weighted

Average

Average

Restricted

Grant Date

Restricted

Grant Date

    

Stock Units

    

Fair Value

    

Stock Units

    

Fair Value

Beginning balance

99,597

$

17.37

73,700

$

18.98

Granted

Vested

Forfeited

Ending balance

99,597

$

17.37

73,700

$

18.98

Nine Months Ended September 30, 

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

50,347

15.72

73,700

18.98

Vested

(20,225)

18.86

Forfeited

(1,525)

18.11

Ending balance

99,597

$

17.37

73,700

$

18.98

Schedule of the status of stock appreciation rights and changes

Three Months Ended September 30, 

2021

2020

    

Stock
Appreciation
Rights
Outstanding

    

Weighted
Average
Grant Date
Assigned Value

    

Stock
Appreciation
Rights
Outstanding

    

Weighted
Average
Grant Date
Assigned Value

Beginning balance

97,920

$

16.32

110,160

$

16.32

Granted

Exercised

Expired

Forfeited

Ending balance

97,920

$

16.32

110,160

$

16.32

Nine Months Ended September 30, 

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

(6,120)

16.32

Expired

(1,530)

16.32

Forfeited

Ending balance

97,920

$

16.32

110,160

$

16.32

A further summary of stock appreciation rights as of September 30, 2021, is as follows:

Weighted Average

Stock Appreciation Rights

Remaining

Grant Date Assigned Values

    

Outstanding

    

Exercisable

    

Contractual Term

$ 16.32

97,920

85,680

7.5

years

Schedule of assumptions used in valuing stock appreciation rights

September 30, 

December 31, 

    

2021

    

2020

Risk-free interest rate

1.33

%

0.80

%

Expected volatility

35.36

%

34.72

%

Expected life (in years)

7.9

8.7

Expected dividend yield

3.86

%

3.96

%

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

Three Months Ended September 30, 

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

43,046

$

15.53

$

Granted

Vested

Forfeited

Ending balance

43,046

$

15.53

$

Nine months ended September 30, 

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

$