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STOCK-BASED COMPENSATION PLANS | 6 Months Ended
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Jun. 30, 2025
STOCK-BASED COMPENSATION PLANS |
STOCK-BASED COMPENSATION PLANS | 9. STOCK-BASED COMPENSATION PLANS The Corporation has a stock incentive plan for selected officers and the independent directors. The Corporation made second quarter 2025 restricted stock awards to independent directors that vest ratably over one year and made restricted stock awards to employees that vest ratably over three years in the six-month period ended June 30, 2025. Following is a summary of restricted stock awards granted in the six-month period ended June 30, 2025: ​
​ | ​ | ​ | ​ | ​ | ​
(Dollars in Thousands) |  | ​ |  | Aggregate
​ | ​ | ​ | ​ | Grant
​ | ​ | ​ | ​ | Date
​ | ​ | Number of | ​ | Fair
​ | ​ | Shares | ​ | Value
Six Months Ended June 30, 2025 awards: | ​ | ​ | ​ | ​ | ​
Time-based awards to independent directors | ​ | 12,700 | ​ | $ | 250
Time-based awards to employees | ​ | 31,113 | ​ | ​ | 684
Performance-based awards to employees | ​ | 11,848 | ​ | ​ | 261
Total | ​ | 55,661 | ​ | $ | 1,195
​ Compensation cost related to restricted stock is recognized based on the fair value of the stock at the grant date over the vesting period, adjusted for estimated and actual forfeitures. Total stock-based compensation expense attributable to restricted stock awards amounted to $331,000 in the second quarter 2025 and $390,000 in the second quarter 2024. Total stock-based compensation expense attributable to restricted stock awards amounted to $656,000 in the six-month period ended June 30, 2025 and $716,000 in the six-month period ended June 30, 2024.

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