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STOCK-BASED COMPENSATION PLANS | 12 Months Ended
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Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
STOCK-BASED COMPENSATION PLANS | STOCK BASED COMPENSATION PLANS On October 3, 2000, the shareholders of the Company approved the Bar Harbor Bankshares and Subsidiaries Incentive Stock Option Plan of 2000 (the “ISOP”) for its officers and employees, which provided for the issuance of up to 1,012,500 shares of common stock. The purchase price of the stock covered by each option must be at least 100% of the trading value on the date such option was granted. Vesting terms ranged from three to seven years. According to the ISOP no option shall be granted after October 3, 2010, ten years after the effective date of the ISOP. On May 19, 2009, the shareholders of the Company approved the adoption of the 2009 Bar Harbor Bankshares and Subsidiaries Equity Incentive Plan (the “2009 Plan”) for employees and directors of the Company and its subsidiaries. Subject to adjustment for stock splits, stock dividends, and similar events, the total number of shares of common stock that can be issued under the 2009 Plan over the 10 year period in which the plan will be in place is 393,750 shares of common stock, provided that no more than 168,750 shares of such stock can be awarded in the form of restricted stock or restricted stock units, as further described in the 2009 Plan. The 2009 Plan is administered by the Company’s Compensation Committee. All employees and directors of the Company and its subsidiaries are eligible to participate in the 2009 Plan, subject to the discretion of the administrator and the terms of the 2009 Plan. The maximum stock award granted to one individual may not exceed 45,000 shares of common stock (subject to adjustment for stock splits, and similar events) for any calendar year. No grants were made after May 18, 2015 pursuant to this plan. On May 19, 2015, the shareholders of the Company approved the adoption of the 2015 Bar Harbor Bankshares and Subsidiaries Equity Incentive Plan (the “2015 Plan”) for employees and directors of the Company and its subsidiaries. Subject to adjustment for stock splits, stock dividends, and similar events, the total number of shares of common stock that can be issued under the 2015 Plan over the 10 year period in which the plan will be in place is 420,000 shares of common stock. The 2015 Plan is administered by the Company’s Compensation Committee. All employees and directors of the Company and its subsidiaries are eligible to participate in the 2015 Plan, subject to the discretion of the administrator and the terms of the 2015 Plan. The maximum stock award granted to one individual may not exceed 30,000 shares of common stock (subject to adjustment for stock splits, and similar events) for any calendar year. According to the 2015 Plan no shares shall be granted after May 19, 2019. As of December 31, 2018, there were 117,134 shares available for grant under this plan. In April of 2013, the Board of Directors approved a Long Term Incentive Program for senior management members. The program is designed to be made up of a series of three year rolling plans utilizing the shares made available through the approved equity plans. Grants may be given in time vested restricted stock awards, time vested restricted stock units or performance vested restricted stock units, or a combination of these types of grants. Compensation expense recognized in connection with the stock based compensation plans are presented in the following table for the years ended December 31, 2018, 2017, and 2016:
(in thousands) |  | 2018 |  | 2017 |  | 2016
Stock options and restricted stock awards |  | $ | 350 |  |  | $ | 399 |  |  | $ | 543 |
Performance stock units |  | 237 |  |  | 290 |  |  | 304 |
Restricted stock units |  | 711 |  |  | 585 |  |  | 431 |
Total compensation expense |  | $ | 1,298 |  |  | $ | 1,274 |  |  | $ | 1,278 |
The total tax benefit recognized associated with stock options and restricted stock awards for the years ended 2018, 2017 and 2016 was $81 thousand, $308 thousand and $274 thousand, respectively. The total tax benefit recognized associated with restricted stock units and performance stock units for the years ended 2018, 2017 and 2016 was $221 thousand, $423 thousand and $320 thousand, respectively. Stock Option and Restricted Stock Awards Activity: A summary combined status of the stock option and restricted stock awards as of December 31, 2018 and 2017, and changes during the year then ended is presented below:
Stock Options |  | Number of Stock Options Outstanding |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value
Outstanding at January 1, 2018 |  | 169,921 |  |  | $ | 18.95 |  |  |
Granted |  | — |  |  | — |  |  |
Exercised |  | (47,534 | ) |  | 16.32 |  |  |
Forfeited |  | (750 | ) |  | 22.16 |  |  |
Outstanding at December 31, 2018 |  | 121,637 |  |  | $ | 19.96 |  |  | $ | 313 |
Ending vested and expected to vest December 31, 2018 |  | 121,637 |  |  | $ | 19.96 |  |  | $ | 313 |
Exercisable at December 31, 2018 |  | 101,554 |  |  | 20.66 |  |  | 192 |
Stock Options |  | Number of Stock Options Outstanding |  | Weighted Average Exercise Price |  | Aggregate Intrinsic Value
Outstanding at January 1, 2017 |  | 236,763 |  |  | $ | 17.99 |  |  |
Granted |  | — |  |  | — |  |  |
Exercised |  | (55,725 | ) |  | 15.19 |  |  |
Forfeited |  | (11,117 | ) |  | 17.38 |  |  |
Outstanding at December 31, 2017 |  | 169,921 |  |  | $ | 18.95 |  |  | 1,370 |
Ending vested and expected to vest December 31, 2017 |  | 169,921 |  |  | $ | 18.95 |  |  | $ | 1,370 |
Exercisable at December 31, 2017 |  | 100,317 |  |  | 18.66 |  |  | 838 |
Restricted Stock Awards |  | Number of Restricted Stock Awards Outstanding |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2018 |  | — |  |  | — |
Awarded |  | 12,420 |  |  | $ | 24.14 |
Vested |  | (12,420 | ) |  | 24.14 |
Forfeited |  | — |  |  | — |
Outstanding at December 31, 2018 |  | — |  |  | $ | — |
Restricted Stock Awards |  | Number of Restricted Stock Awards Outstanding |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2017 |  | — |  |  | — |
Awarded |  | 8,004 |  |  | $ | 29.96 |
Vested |  | (8,004 | ) |  | 29.96 |
Forfeited |  | — |  |  | — |
Outstanding at December 31, 2017 |  | — |  |  | $ | — |
The intrinsic value of the options exercised under both plans for the years ended December 31, 2018, 2017, and 2016, was approximately $913 thousand, $760 thousand and $708 thousand, respectively. As of December 31, 2018, there was approximately $8 thousand of unrecognized compensation cost related to unvested stock option awards, net of estimated forfeitures. This amount is expected to be recognized as expense over the next six years, with a weighted average recognition period of 1.36 years. Performance Stock Units During 2018, performance stock unit awards were granted to certain executive officers providing the opportunity to earn shares of common stock of the Company collectively ranging from zero to 28,082 shares, based on the Company’s performance compared to peers. The performance stock units granted will vest only if the performance measures are achieved. Failure to achieve the performance measures will result in all or a portion of shares being forfeited. The performance shares granted had a weighted average fair value of $26.30 at the date of grant, and will be earned over a three year performance period. During 2017, performance stock unit awards were granted to certain executive officers providing the opportunity to earn shares of common stock of the Company collectively ranging from zero to 19,973 shares, based on the Company’s performance compared to peers. The performance stock units granted will vest only if the performance measures are achieved. Failure to achieve the performance measures will result in all or a portion of shares being forfeited. The performance shares granted had a weighted average fair value of $26.74 at the date of grant, and will be earned over a three year performance period. The following table summarizes performance units at target as of December 31, 2018 and 2017:
Performance Stock Units |  | Number of Performance Stock Units Outstanding |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2018 |  | 33,627 |  |  | $ | 25.21 |
Awarded |  | 23,011 |  |  | 26.30 |
Vested and exercised |  | (15,017 | ) |  | 22.25 |
Forfeited |  | (3,756 | ) |  | 27.94 |
Nonvested at December 31, 2018 |  | 37,865 |  |  | $ | 26.77 |
Performance Stock Units |  | Number of Performance Stock Units Outstanding |  | Weighted Average Grant Date Fair Value
Nonvested at January 1, 2017 |  | 34,246 |  |  | $ | 21.25 |
Awarded |  | 17,711 |  |  | 26.74 |
Vested and exercised |  | (15,121 | ) |  | 18.84 |
Forfeited |  | (3,209 | ) |  | 21.51 |
Nonvested at December 31, 2017 |  | 33,627 |  |  | $ | 25.21 |
The intrinsic value of the performance stock units vested and exercised for the years ended December 31, 2018, 2017 and 2016, was $337 thousand, $285 thousand and $336 thousand, respectively. Restricted Stock Units During 2018 and 2017, restricted stock units were granted to certain executive officers and senior vice presidents. The restricted shares granted were valued between $24.85 and $30.19 for 2018 and between $26.86 and $30.93 for 2017 the fair market value at the date of grant and vest annually over three years. The following table summarizes restricted stock units activity in 2018 and 2017:
Restricted Stock Units |  | Number of Restricted Stock Units Outstanding |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2018 |  | 74,168 |  |  | $ | 26.60 |
Granted |  | 46,743 |  |  | 28.66 |
Vested and exercised |  | (26,489 | ) |  | 24.36 |
Forfeited |  | (13,682 | ) |  | 28.28 |
Outstanding at December 31, 2018 |  | 80,740 |  |  | $ | 28.24 |
Restricted Stock Units |  | Number of Restricted Stock Units Outstanding |  | Weighted Average Grant Date Fair Value
Outstanding at January 1, 2017 |  | 40,681 |  |  | $ | 22.03 |
Granted |  | 57,561 |  |  | 28.48 |
Vested and exercised |  | (12,667 | ) |  | 21.49 |
Forfeited |  | (11,407 | ) |  | 25.43 |
Outstanding at December 31, 2017 |  | 74,168 |  |  | $ | 26.60 |
The intrinsic value of the restricted stock units vested and exercised for the years ended December 31, 2018, 2017 and 2016, was $594 thousand, $272 thousand and $235 thousand, respectively. As of December 31, 2018, there was $1.8 million of total unrecognized compensation cost related to nonvested restricted stock units and performance stock units granted under the Plans. That cost is expected to be recognized over a weighted average period of 2.0 years.

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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