STOCK OPTIONS

12 Months Ended

Dec. 31, 2019

Stockholders' Equity Note [Abstract]

STOCK OPTIONS

NOTE 17 – STOCK OPTIONS

Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. The table below reflects the remaining outstanding options related to this transaction and presents a summary of the status of Salisbury's outstanding stock options as of and for the year ended December 31, 2019:

Year ended December 31, 2019	Number of options			Weighted average exercise price		Weighted average remaining contractual term (in years)		Aggregate intrinsic value
Beginning of period		22,545		$	17.04
Granted		—			—
Exercised		(4,725	)		17.04
Forfeited or expired		—			—
End of period		17,820		$	17.04		4.00	$	510,187

Year ended December 31, 2018	Number of options			Weighted average exercise price		Weighted average remaining contractual term (in years)		Aggregate intrinsic value
Beginning of period		40,500		$	21.73
Granted		—			—
Exercised		(9,155	)		24.26
Forfeited or expired		(8,800	)		31.11
End of period		22,545		$	17.04		5.00	$	456,000

All options are vested and exercisable at December 31, 2019. The total intrinsic value is the amount by which the fair value of the underlying stock exceeds the exercise price of an option on the exercise date. The total intrinsic value of stock options exercised during the years ended December 31, 2019, 2018 and 2017 was $125 thousand, $160 thousand, and $156 thousand, respectively.