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STOCK COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2024

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, 2024 is as follows:

			Options						Weighted- average exercise price						Weighted- average remaining contractual life (years)						Aggregate intrinsic value (in thousands)
Options outstanding, January 1, 2024			999,500						$	13.31
Grants(1)			65,000						9.46
Expirations			(252,000)						18.68
Options outstanding, September 30, 2024(1)			812,500						11.34						5.0						$	36
Options exercisable, September 30, 2024			674,500						$	11.78					4.3						$	13
Total unrecognized stock option expense remaining (in thousands)			$	509
Weighted-average years expected to be recognized over			1.6

Summary of Restricted Stock Activity

A summary of the Company’s restricted stock activity and related information for the nine months ended September 30, 2024 is as follows:

			Restricted Shares						Weighted- average grant date fair value
Non-vested restricted shares, January 1, 2024			597,528						$	8.44
Grants			313,199						9.54
Vested			(306,425)						7.53
Cancellations			(9,150)						10.01
Non-vested restricted shares, September 30, 2024			595,152						$	9.46
Total unrecognized compensation expense remaining (in thousands)			$	4,253
Weighted-average years expected to be recognized over			1.6

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, 2024 is as follows:

			Performance- based stock awards (1)						Weighted- average grant date fair value
Non-vested performance-based awards, January 1, 2024			486,972						$	10.44
Grants			219,975						9.76
Vested			(152,188)						14.18
Cancellations			(24,315)						13.23
Non-vested performance-based awards, September 30, 2024			530,444						$	8.96
Total unrecognized compensation expense remaining (in thousands)(2)			$	2,105
Weighted-average years expected to be recognized over			2.0

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

(2)The performance metric for the performance-based awards granted in 2022 is not probable of achievement. Therefore, no compensation expense has been recorded on these awards.

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, 2024 is as follows:

			Cash-settled performance-based awards (1)						Weighted- average fair value
Non-vested cash-settled performance-based awards, January 1, 2024			83,611						$	6.71
Cancellations			(1,419)						6.77
Non-vested cash-settled performance-based awards, September 30, 2024			82,192						$	6.54
Total unrecognized compensation expense remaining (in thousands)(2)			$	—
Weighted-average years expected to be recognized over			0.0

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

(2) The performance metric for the cash-settled performance-based awards granted in 2022 is not probable of achievement. Therefore, no compensation expense has been recorded on these awards.

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			2024						2023						2024						2023
Equity based stock option expense			$	73					$	46					$	183					$	225
Restricted and performance-based stock awards expense			973						852						2,706						2,549
Stock compensation expense for equity based awards			$	1,046					$	898					$	2,889					$	2,774
Liability based stock option expense			(4)						—						(3)						(4)
Total Stock Compensation Expense			$	1,042					$	898					$	2,886					$	2,770

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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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-Topic 718
-SubTopic 10
-Section 50
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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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