BENEFITS	3 Months Ended
Mar. 31, 2018
Retirement Benefits [Abstract]
BENEFITS	NOTE 8 –BENEFITS Salisbury’s 401(k) Plan expense was $282 thousand and $285 thousand, respectively, for the three month periods ended March 31, 2018 and 2017. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $26 thousand and $18 thousand for the three month periods ended March 31, 2018 and 2017, respectively. ESOP Salisbury offers an ESOP to eligible employees. Under the Plan, Salisbury may make discretionary contributions to the Plan, which generally vests in full upon six years of qualified service. Salisbury’s ESOP expense was $60 thousand and $34 thousand, respectively, for the three month periods ended March 31, 2018 and 2017. Other Retirement Plans A Non-Qualified Deferred Compensation Plan (the "Plan") was adopted effective January 1, 2013. This Plan was adopted by the Bank for the benefit of certain key employees ("Executive" or "Executives") who have been selected and approved by the Bank to participate in this Plan and who have evidenced their participation by execution of a Non-Qualified Deferred Compensation Plan Participation Agreement ("Participation Agreement") in a form provided by the Bank. This Plan is intended to comply with Internal Revenue Code ("Code") Section 409A and any regulatory or other guidance issued under such Section. Salisbury’s expense for this plan was $28 thousand and $21 thousand, respectively, for the three month periods ended March 31, 2018 and 2017. On January 19, 2018, the Compensation Committee granted a total of 53,500 Phantom Stock Appreciation Units pursuant to the 2013 Phantom Stock Appreciation Unit and Long-Term Incentive Plan (the “Plan”), including 20,000 units to three Named Executive Officers. Mr. Cantele received 10,000 units, Mr. Davies received 5,000 units and Mr. Albero received 5,000 units. The units will vest on the third anniversary of the grant date. Salisbury’s expense for all Phantom Stock Appreciation Units was $60 thousand and $43 thousand, respectively, for the three month periods ended March 31, 2018 and 2017. Grants of Restricted Stock and Options Restricted stock Expense in first quarter 2018 and 2017 related to stock based compensation totaled $113 thousand and $61 thousand respectively. Unrecognized compensation cost relating to the awards as of March 31, 2018 and 2017 totaled $493 thousand and $288 thousand, respectively. Forfeitures in the first quarter 2018 and 2017 totaled 0 and 200 shares, respectively. Options Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In the first quarter 2018, 1,350 stock options were exercised at $31.11 per share by one former Riverside Bank executive. In the first quarter 2017, 12,150 stock options were exercised at $25.93 by former Riverside Bank executives.

BENEFITS

3 Months Ended

Mar. 31, 2018

NOTE 8 –BENEFITS

Salisbury’s 401(k) Plan expense was $282 thousand and $285 thousand, respectively, for the three month periods ended March 31, 2018 and 2017. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $26 thousand and $18 thousand for the three month periods ended March 31, 2018 and 2017, respectively.

ESOP

Salisbury offers an ESOP to eligible employees. Under the Plan, Salisbury may make discretionary contributions to the Plan, which generally vests in full upon six years of qualified service. Salisbury’s ESOP expense was $60 thousand and $34 thousand, respectively, for the three month periods ended March 31, 2018 and 2017.

Other Retirement Plans

A Non-Qualified Deferred Compensation Plan (the "Plan") was adopted effective January 1, 2013. This Plan was adopted by the Bank for the benefit of certain key employees ("Executive" or "Executives") who have been selected and approved by the Bank to participate in this Plan and who have evidenced their participation by execution of a Non-Qualified Deferred Compensation Plan Participation Agreement ("Participation Agreement") in a form provided by the Bank. This Plan is intended to comply with Internal Revenue Code ("Code") Section 409A and any regulatory or other guidance issued under such Section. Salisbury’s expense for this plan was $28 thousand and $21 thousand, respectively, for the three month periods ended March 31, 2018 and 2017.

On January 19, 2018, the Compensation Committee granted a total of 53,500 Phantom Stock Appreciation Units pursuant to the 2013 Phantom Stock Appreciation Unit and Long-Term Incentive Plan (the “Plan”), including 20,000 units to three Named Executive Officers. Mr. Cantele received 10,000 units, Mr. Davies received 5,000 units and Mr. Albero received 5,000 units. The units will vest on the third anniversary of the grant date. Salisbury’s expense for all Phantom Stock Appreciation Units was $60 thousand and $43 thousand, respectively, for the three month periods ended March 31, 2018 and 2017.

Grants of Restricted Stock and Options

Restricted stock

Expense in first quarter 2018 and 2017 related to stock based compensation totaled $113 thousand and $61 thousand respectively. Unrecognized compensation cost relating to the awards as of March 31, 2018 and 2017 totaled $493 thousand and $288 thousand, respectively. Forfeitures in the first quarter 2018 and 2017 totaled 0 and 200 shares, respectively.

Options

Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In the first quarter 2018, 1,350 stock options were exercised at $31.11 per share by one former Riverside Bank executive. In the first quarter 2017, 12,150 stock options were exercised at $25.93 by former Riverside Bank executives.