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STOCK COMPENSATION - RESTRICTED STOCK AND PERFORMANCE SHARE GRANTS (Tables)

9 Months Ended

Sep. 30, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Performance Share Grants with Performance Conditions

The following is a summary of the Company’s Performance Condition Grants outstanding as of September 30, 2025:


Performance Condition Grants


Target performance						237,445
Maximum performance						298,159

Schedule of Stock Grant Activity

The following is a summary of the Company’s stock grant activity, both time and performance unit grants, assuming target achievement for outstanding performance grants for the nine months ended September 30, 2025:


			September 30, 2025
Stock grants outstanding beginning of period at target achievement			312,564
New stock grants/additional shares due to achievement in excess of target			170,925
Vested grants			(25,012)
Expired/forfeited grants			(93,679)
Stock grants outstanding end of period at target achievement			364,798

Schedule of Assumptions Used to Determine The Price of Market-Based Performance Condition Grants

The following is a summary of the assumptions used to determine the fair value for the Company’s outstanding market-based Performance Condition Grants as of September 30, 2025:


($ in thousands except for share prices)
Grant date	12/14/2022	06/16/2023	08/21/2023	12/16/2023
Vesting end	12/14/2025	12/31/2025	12/31/2025	12/31/2026
Target share price to achieve award	$21.99	$20.72	$19.20	$19.65

Expected volatility	32.14%	26.58%	25.55%	25.91%
Risk-free interest rate	3.84%	4.38%	4.74%	4.02%

Simulated Monte Carlo share price	$26.00	$20.24	$17.88	$19.74
Shares granted	4,613	9,515	1,650	4,828
Total fair value of award	$120	$193	$30	$95


($ in thousands except for share prices)
Grant date	03/13/2024	12/11/2024	03/06/2025	06/20/2025
Vesting end	03/22/2027	12/10/2027	03/06/2028	06/20/2028
Share price at target achievement	$18.93	$18.59	$18.56	$19.01

Expected volatility	25.56%	26.90%	27.04%	26.82%
Risk-free interest rate	4.31%	4.01%	3.90%	3.80%

Simulated Monte Carlo share price	$18.36	$18.55	$13.54	$18.53
Shares granted	15,225	2,315	13,046	18,351
Total fair value of award	$280	$43	$177	$340

Schedule of Stock Compensation Costs for Employee and NDSI Plans

The following table summarizes stock compensation costs for the Company's 2023 Stock Incentive Plan, 1998 Stock Incentive Plan, and the prior Non-Employee Director Stock Incentive Plan for the following periods:


($ in thousands)	Nine Months Ended September 30,
Employee	2025		2024
Expensed	$	519	$	3,665
Capitalized	475		620
	994		4,285
Director	638		421
Total stock compensation costs	$	1,632	$	4,706