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STOCK PLANS (Tables)
 9 Months Ended
Sep. 30, 2022
STOCK PLANS [Abstract]  
Stock Option Activity
The following table presents the activity related to stock options for the three months ended September 30, 2022.
 
  
Number of
Shares
    
Weighted
Average
Exercise
Price
    
Aggregate
Intrinsic
Value
    
Weighted
Average
Remaining
Contractual
Term (in
years)
  
Options outstanding at Beginning of Period
    
652,255
    
$
8.83
              
Granted
    
—
      
—
              
Expired
    
—
      
—
              
Cancelled / Forfeited
    
—
      
—
              
Exercised
    
—
      
—
              
Options outstanding at End of Period
    
652,255
    
$
8.83
    
$
488,177
      
5.53
  
Exercisable (vested) at End of Period
    
488,666
    
$
8.41
    
$
488,177
      
4.77
  

The following table presents the activity related to stock options for the nine months ended September 30, 2022.
 
  
Number of
Shares
    
Weighted
Average
Exercise
Price
  
Aggregate
Intrinsic
Value
  
Weighted
Average
Remaining
Contractual
Term (in
years)
  
Options outstanding at Beginning of Period
    
627,814
    
$
8.58
          
Granted
    
42,965
    

10.25
          
Expired
    
—
    

—
          
Cancelled / Forfeited
    
—
      
—
          
Exercised
    
(18,524
)
    
3.51
          
Options outstanding at End of Period
    
652,255
    
$
8.83
    
$
488,177
      
5.53
  
Exercisable (vested) at End of Period
    
488,666
    
$
8.41
    
$
488,177
      
4.77
  
Weighted Average Assumptions Used in Valuing Stock Options
A summary of the weighted average assumptions used in valuing stock options during the three and nine months ended September 30, 2022 is presented below:


   
Three Months Ended
September 30, 2022*
    
Nine Months Ended
September 30, 2022
  
Risk Free Interest Rate
    
—
      
2.54
%
                 
Expected Dividend Yield
    
—
      
0.00
%
                 
Expected Life in Years
    
—
      
5
  
                 
Expected Price Volatility
    
—
      
19.70
%



* There were no stock options granted during the three months ended September 30, 2022.
Activity Related to Restricted Stock
The following table presents the activity related to non-vested restricted stock for the three months ended September 30,2022.
 
  
Number of
Shares
    
Weighted
Average
Grant Date
Fair Value
    
Aggregate
Intrinsic
Value
    
Weighted
Average
Remaining
Contractual
Term (in years)
  
Non-vested Restricted stock outstanding at Beginning of Period
  

209,725
    
$
9.99
    
   
 
Granted
    
—
      
—
               
Cancelled / Forfeited
    
—
   
—
               
Exercised/Released/Vested
    
—
   
—
               
Non-vested restricted stock outstanding at End of Period
    
209,725
    
$
9.99
   $
1,772,176
    
2.74
  

The following table presents the activity related to non-vested restricted stock for the nine months ended September 30, 2022.
 
  
Number of
Shares
    
Weighted
Average
Grant Date
Fair Value
    
Aggregate
Intrinsic
Value
    
Weighted
Average
Remaining
Contractual
Term (in years)
  
Non-vested Restricted stock outstanding at Beginning of Period
    
167,397
    
$
9.97
    

   

 
Granted
    
72,473
      
10.31
    
 
    
  
  
Cancelled / Forfeited
    
—
   
—
    
 
    
  
  
Exercised/Released/Vested
    
(30,145
)
    
10.68
    
 
    
  
  
Non-vested restricted stock outstanding at End of Period
    
209,725
    
$
9.99
   $
1,772,176
    
2.74
  
Weighted Average Assumptions Used in Valuing ESPP
A summary of the weighted average assumptions used in valuing ESPP issuances during the three and nine months ended September 30, 2022 is presented below.

 
Three Months Ended
September 30, 2022
    
Nine Months Ended
September 30, 2022
  
Risk Free Interest Rate
    
0.21
%
    
0.21
%
 
                
Expected Dividend Yield
    
0.00
%
    
0.00
%
 
                
Expected Life in Years
    
1.00
      
1.00
  
 
                
Expected Price Volatility
    
25.73
%
    
25.73
%