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STOCK-BASED COMPENSATION PLANS (Tables)
9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Summary of Stock-Based Compensation Expense (Benefit)
The following is a summary of stock-based compensation expense (benefit):
Three Months Ended September 30,Nine Months Ended September 30,
(dollars in thousands)2025202420252024
Restricted stock units$310 $263 $888 $798 
Performance restricted stock units203 117 499 467 
Total awards classified as equity513 380 1,387 1,265 
Stock appreciation rights(2)64 136 
Total stock-based compensation expense$511 $444 $1,523 $1,270 
Schedule of the Summary of Outstanding Restricted Stock Units
The following is a summary of restricted stock unit activity:
Three Months Ended September 30,
20252024
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Beginning balance94,947 $22.20 108,865 $19.71 
Granted— — — — 
Vested— — — — 
Forfeited— — (131)19.06 
Ending balance94,947 $22.20 108,734 $19.71 
Nine Months Ended September 30,
20252024
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Beginning balance108,603$19.71 128,159$19.56 
Granted43,39725.00 51,24619.06 
Vested(56,922)19.59 (70,540)18.96 
Forfeited(131)19.06 (131)19.06 
Ending balance94,947$22.20 108,734$19.71 
The following is a summary of performance restricted stock unit activity:
Three Months Ended September 30,
20252024
Performance
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Performance
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Beginning balance53,625$22.07 70,333$19.59 
Granted— — 
Adjustment for performance condition— — 
Vested— — 
Forfeited— — 
Ending balance53,625$22.07 70,333$19.59 
Nine Months Ended September 30,
20252024
Performance
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Performance
Restricted
Stock Units
Weighted
Average
Grant Date
Fair Value
Beginning balance70,333 $19.59 79,097 $18.25 
Granted16,662 25.00 19,933 19.06 
Adjustment for performance condition11,864 18.66 14,349 15.53 
Vested(42,783)18.66 (43,046)15.53 
Forfeited(2,451)16.27 — — 
Ending balance53,625 $22.07 70,333 $19.59 
Schedule of the Status of Stock Appreciation Rights and Changes
The following is a summary of stock appreciation rights activity:
Three Months Ended September 30,
20252024
Stock
Appreciation
Rights
Outstanding
Weighted
Average
Grant Date
Assigned Value
Stock
Appreciation
Rights
Outstanding
Weighted
Average
Grant Date
Assigned Value
Beginning balance67,320$16.32 73,440$16.32 
Granted— — 
Exercised— — 
Expired— — 
Forfeited— — 
Ending balance67,320$16.32 73,440$16.32 
Nine Months Ended September 30,
20252024
Stock
Appreciation
Rights
Weighted
Average
Grant Date
Assigned Value
Stock
Appreciation
Rights
Weighted
Average
Grant Date
Assigned Value
Beginning balance73,440$16.32 73,440$16.32 
Granted— — 
Exercised(6,120)16.32 — 
Expired— — 
Forfeited— — 
Ending balance67,320$16.32 73,440$16.32 
Schedule of Assumptions Used in Valuing Stock Appreciation Rights The Company uses an option pricing model to value the stock appreciation rights, using the assumptions in the following table. Expected volatility is derived from the historical volatility of the Company’s stock price.
September 30, 2025December 31, 2024
Risk-free interest rate3.69 %4.37 %
Expected volatility29.50 %30.95 %
Expected life (in years)3.94.7
Expected dividend yield3.33 %3.47 %