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STOCK COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2022

Share-based Payment Arrangement [Abstract]

Summary of Stock Option Activity and Related Information

A summary of the Company’s stock option activity and related information for the nine months ended September 30, 2022 is as follows:

			Options						Weighted- average exercise price						Weighted- average remaining contractual life (years)						Aggregate intrinsic value (in thousands)
Options outstanding, January 1, 2022			1,094,575						$	13.64
Grants			56,000						11.45
Exercises			(60,000)						11.64
Cancellations			(5,125)						10.60
Expirations			(13,450)						13.99
Options outstanding, September 30, 2022			1,072,000						13.65						4.7						$	13
Options exercisable, September 30, 2022			957,125						$	13.92					4.2						$	6
Total unrecognized stock option expense remaining (in thousands)			$	550
Weighted-average years expected to be recognized over			2.0

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the nine months ended September 30, 2022 is as follows:

			Restricted Shares						Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2022			429,601						$	11.47
Grants			266,713						12.03
Vested			(171,924)						11.89
Cancellations			(6,881)						10.92
Non-vested restricted shares, September 30, 2022			517,509						$	11.63
Total unrecognized compensation expense remaining (in thousands)			$	4,771
Weighted-average years expected to be recognized over			1.7

Summary of Performance-based Award Activity

A summary of the Company’s performance-based award activity and related information for the nine months ended September 30, 2022 is as follows:

			Performance- based stock awards (1)						Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2022			436,330						$	10.54
Grants			123,000						12.19
Achieved performance over target (2)			12,035						9.20
Vested			(166,935)						9.20
Cancellations			(4,128)						10.64
Non-vested performance-based awards, September 30, 2022			400,302						$	11.56
Total unrecognized compensation expense remaining (in thousands)			$	2,461
Weighted-average years expected to be recognized over			1.7

(1)Represents the target number of shares to be issued for each performance-based award.

(2)Represents the number of shares earned over target for performance-based awards granted in 2019 based on performance goals attained. These awards vested in the three months ended March 31, 2022.

Share-based Payment Arrangement, Cash Settled Performance Shares, Activity [Table Text Block]

A summary of the Company’s cash-settled performance-based awards activity and related information for the nine months ended September 30, 2022 is as follows:

			Cash-settled performance-based awards (1)						Weighted- average fair value
Non-vested cash-settled performance-based awards, January 1, 2022			—						$	—
Grants			87,825						6.85
Cancellations			(2,049)						10.39
Non-vested cash-settled performance-based awards, September 30, 2022			85,776						$	6.77
Total unrecognized compensation expense remaining (in thousands)			$	464
Weighted-average years expected to be recognized over			2.3

(1) Represents the target number of units to be settled in cash.

Summary of Stock Compensation Expense

The Company recorded stock compensation expense as follows (in thousands):

			Three Months Ended September 30,												Nine Months Ended September 30,
Stock Compensation Expense Components			2022						2021						2022						2021
Equity based stock option expense			$	51					$	95					$	231					$	321
Restricted and performance-based stock awards expense			972						1,097						3,223						3,633
Stock compensation expense for equity based awards			$	1,023					$	1,192					$	3,454					$	3,954
Liability based stock option expense			(11)						9						(17)						19
Cash-settled performance-based awards expense			14						—						128						—
Total Stock Compensation Expense			$	1,026					$	1,201					$	3,565					$	3,973

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Share-based Payment Arrangement, Cash Settled Performance Shares, Activity

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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

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