STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2022

STOCK-BASED COMPENSATION

Summary of nonvested restricted stock award activity

Non-Vested Restricted Shares	Shares	Wtd. Avg. Fair Value
Non-Vested at January 1, 2020	8,000	$	18.80
Granted	—		—
Vested	(2,664)	$	18.80
Expired	—		—
Forfeited	—		—
Non-Vested at December 31, 2020	5,336	$	18.80
Granted	—		—
Vested	(2,668)	$	18.80
Expired	—		—
Forfeited	—		—
Non-Vested at December 31, 2021	2,668	$	18.80
Granted	—		—
Vested	(2,668)	$	18.80
Expired	—		—
Forfeited	—		—
Non-Vested at December 31, 2022	—	$	—

Schedule of stock compensation expense

Stock compensation expense for the years ended December 31, 2022, 2021, and 2020 is summarized as follows (in thousands):

	Year Ended
	December 31, 2022		December 31, 2021		December 31, 2020
Stock Compensation Expense – Director Restricted Stock	$	46	$	50	$	51
Stock Compensation Expense – Director Retainers Paid in Stock		264		259		217
Total Stock Compensation Expense	$	310	$	309	$	268

(1) Director retainers are issued through additional paid in capital in arrears. Therefore, the change in additional paid in capital during the years ended December 31, 2022, 2021, and 2020 reported on the consolidated statements of stockholders’ equity does not agree to the total non-cash compensation reported on the consolidated statements of cash flows.