STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

ESOP compensation expense

The following table presents ESOP compensation expense for the shares committed to be released from unallocated for the three months ended March 31, 2023 and March 31, 2022.

	Three months ended March 31,
	2023		2022
	(Dollars in thousands)
ESOP compensation expense	$	262	$	322
Shares committed to be released from unallocated	22,818		22,818

Schedule of share-based compensation expense

The following table presents the share-based compensation expense for the three months ended March 31, 2023. There was no share-based compensation expense for the three months ended March 31, 2022.

	Three Months Ended March 31, 2023
	(In thousands)
Stock option expense	$	399
Restricted stock expense	269
Total share-based compensation expense	$	668

Schedule of stock option activity

The following is a summary of the Company’s stock option activity and related information for the three months ended March 31, 2023:

	Number of Stock Options	Weighted Average Grant Date Fair Value		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (years)
Outstanding - December 31, 2022	2,591,063	$	4.12	$	11.65	9.8
Granted	—	—		—		0
Forfeited	(61,000)	4.25		11.69		9.5
Outstanding - March 31, 2023	2,530,063	$	4.12	$	11.65	9.8
Exercisable - March 31, 2023	—

Schedule of restricted shares activity

The following is a summary of the status of the Company’s restricted shares as of March 31, 2023 and changes therein during the three months ended:

	Number of Shares Awarded	Weighted Average Grant Date Fair Value
Outstanding - December 31, 2022	299,481	$	11.54
Granted	732,780	12.00
Outstanding - March 31, 2023	1,032,261	$	11.87