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STOCK-BASED COMPENSATION PLANS (Tables)
6 Months Ended
Jun. 30, 2023
STOCK-BASED COMPENSATION PLANS  
Summary of stock-based compensation expense

Three Months Ended June 30, 

Six Months Ended June 30, 

    

2023

    

2022

    

2023

    

2022

    

(dollars in thousands)

Restricted stock units

$

317

$

234

$

594

$

842

Performance restricted stock units

117

118

357

411

Total awards classified as equity

434

352

951

1,253

Stock appreciation rights

(47)

7

(46)

(16)

Total stock-based compensation expense

$

387

$

359

$

905

$

1,237

Schedule of the summary of outstanding restricted stock units

Three Months Ended June 30, 

2023

2022

Weighted

Weighted

Average

Average

Restricted

Grant Date

Restricted

Grant Date

    

Stock Units

    

Fair Value

    

Stock Units

    

Fair Value

Beginning balance

129,422

$

19.58

120,631

$

17.98

Granted

Vested

Forfeited

Ending balance

129,422

$

19.58

120,631

$

17.98

Six Months Ended June 30, 

2023

2022

Weighted

Weighted

Average

Average

Restricted

Grant Date

Restricted

Grant Date

    

Stock Units

    

Fair Value

    

Stock Units

    

Fair Value

Beginning balance

139,986

$

18.01

109,244

$

17.27

Granted

41,847

22.72

46,312

19.11

Vested

(51,693)

17.91

(34,925)

17.26

Forfeited

(718)

16.58

Ending balance

129,422

$

19.58

120,631

$

17.98

Schedule of the status of stock appreciation rights and changes

Three Months Ended June 30, 

2023

2022

    

Stock
Appreciation
Rights
Outstanding

    

Weighted
Average
Grant Date
Assigned Value

    

Stock
Appreciation
Rights
Outstanding

    

Weighted
Average
Grant Date
Assigned Value

Beginning balance

73,440

$

16.32

91,800

$

16.32

Granted

Exercised

Expired

Forfeited

Ending balance

73,440

$

16.32

91,800

$

16.32

Six Months Ended June 30, 

2023

2022

    

Stock
Appreciation
Rights

    

Weighted
Average
Grant Date
Assigned Value

    

Stock
Appreciation
Rights

    

Weighted
Average
Grant Date
Assigned Value

Beginning balance

73,440

$

16.32

97,920

$

16.32

Granted

Exercised

(6,120)

16.32

Expired

Forfeited

Ending balance

73,440

$

16.32

91,800

$

16.32

A further summary of stock appreciation rights as of June 30, 2023, is as follows:

Weighted Average

Stock Appreciation Rights

Remaining

Grant Date Assigned Values

    

Outstanding

    

Exercisable

    

Contractual Term

$ 16.32

73,440

67,320

6.2

years

Schedule of assumptions used in valuing stock appreciation rights

    

June 30, 2023

    

December 31, 2022

Risk-free interest rate

4.06

%

3.95

%

Expected volatility

37.35

%

36.54

%

Expected life (in years)

6.2

6.7

Expected dividend yield

3.69

%

3.27

%

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

Three Months Ended June 30, 

2023

2022

Weighted

Weighted

Performance

Average

Performance

Average

Restricted

Grant Date

Restricted

Grant Date

    

Stock Units

    

Fair Value

    

Stock Units

    

Fair Value

Beginning balance

79,097

$

18.25

62,067

$

17.02

Granted

Vested

Forfeited

Ending balance

79,097

$

18.25

62,067

$

17.02

Six months ended June 30, 

2023

2022

Weighted

Weighted

Performance

Average

Performance

Average

Restricted

Grant Date

Restricted

Grant Date

    

Stock Units

    

Fair Value

    

Stock Units

    

Fair Value

Beginning balance

62,067

$

17.02

38,344

$

15.72

Granted

17,030

22.72

23,723

19.14

Vested

Forfeited

Ending balance

79,097

$

18.25

62,067

$

17.02