BENEFITS	3 Months Ended
Mar. 31, 2019
Retirement Benefits [Abstract]
BENEFITS	NOTE 9 - BENEFITS Salisbury's 401(k) Plan expense was $239 thousand and $282 thousand, respectively, for the three month periods ended March 31, 2019 and 2018. The decrease in the expense reflected a reduction in the Bank's safe-harbor and employer match percentages. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $21 thousand and $26 thousand for the three month periods ended March 31, 2019 and 2018, 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 $49 thousand and $60 thousand, respectively, for the three month periods ended March 31, 2019 and 2018. 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 $29 thousand and $28 thousand, respectively, for the three month periods ended March 31, 2019 and 2018. Grants of Restricted Stock, Performance Based Restricted Stock Units and Options Restricted stock Expense in first quarter 2019 and 2018 related to stock based compensation totaled $100 thousand and $113 thousand, respectively. Unrecognized compensation cost relating to the awards as of March 31, 2019 and 2018 totaled $606 thousand and $493 thousand, respectively. Forfeitures in the first quarter 2019 and 2018 totaled 100 and 0 shares, respectively. Performance-based restricted stock units On March 29, 2019, the Compensation Committee granted performance-based restricted stock units (RSU) pursuant to the 2017 Long-Term Incentive Plan to further align compensation with the Bank's performance. This RSU plan replaced the Bank's Phantom Stock Appreciation Units plan. The performance goal is based on the increase in the Bank's tangible book value by $3.50 per share over the performance period for threshold performance. Vesting will range from 75% of target for achieving threshold performance, to 100% of target for achieving target payout performance ($5.00 increase in tangible book value per share) to 150% of target for achieving in excess of target payout performance and, if the performance goals are achieved, vesting will occur no later than March 29, 2022. A total of 6,800 performance-based restricted stock units were granted, including 3,500 units to three Named Executive Officers. Mr. Cantele received 1,500 units, Mr. Davies received 1,000 units and Mr. Albero received 1,000 units. No compensation expense was recorded with respect to these RSUs in the three month period ending March 31, 2019. Options Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In the first quarter 2019, 0 stock options were exercised. In the first quarter 2018, 1,350 stock options were exercised at $31.11 per share by one former Riverside Bank executive, who is currently a Named Executive Officer of Salisbury.

BENEFITS

3 Months Ended

Mar. 31, 2019

NOTE 9 - BENEFITS

Salisbury's 401(k) Plan expense was $239 thousand and $282 thousand, respectively, for the three month periods ended March 31, 2019 and 2018. The decrease in the expense reflected a reduction in the Bank's safe-harbor and employer match percentages. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $21 thousand and $26 thousand for the three month periods ended March 31, 2019 and 2018, 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 $49 thousand and $60 thousand, respectively, for the three month periods ended March 31, 2019 and 2018.

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 $29 thousand and $28 thousand, respectively, for the three month periods ended March 31, 2019 and 2018.

Grants of Restricted Stock, Performance Based Restricted Stock Units and Options

Restricted stock

Expense in first quarter 2019 and 2018 related to stock based compensation totaled $100 thousand and $113 thousand, respectively. Unrecognized compensation cost relating to the awards as of March 31, 2019 and 2018 totaled $606 thousand and $493 thousand, respectively. Forfeitures in the first quarter 2019 and 2018 totaled 100 and 0 shares, respectively.

Performance-based restricted stock units

On March 29, 2019, the Compensation Committee granted performance-based restricted stock units (RSU) pursuant to the 2017 Long-Term Incentive Plan to further align compensation with the Bank's performance. This RSU plan replaced the Bank's Phantom Stock Appreciation Units plan. The performance goal is based on the increase in the Bank's tangible book value by $3.50 per share over the performance period for threshold performance. Vesting will range from 75% of target for achieving threshold performance, to 100% of target for achieving target payout performance ($5.00 increase in tangible book value per share) to 150% of target for achieving in excess of target payout performance and, if the performance goals are achieved, vesting will occur no later than March 29, 2022. A total of 6,800 performance-based restricted stock units were granted, including 3,500 units to three Named Executive Officers. Mr. Cantele received 1,500 units, Mr. Davies received 1,000 units and Mr. Albero received 1,000 units. No compensation expense was recorded with respect to these RSUs in the three month period ending March 31, 2019.

Options

Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In the first quarter 2019, 0 stock options were exercised. In the first quarter 2018, 1,350 stock options were exercised at $31.11 per share by one former Riverside Bank executive, who is currently a Named Executive Officer of Salisbury.