EMPLOYEE BENEFIT PLANS (Tables)

12 Months Ended

Dec. 31, 2023

EMPLOYEE BENEFIT PLANS

Compensation Expense and Related Tax Benefits for Restricted Stock

The following table presents compensation expense and related tax benefits for restricted stock awards recognized on the consolidated statement of income.

(Dollars in thousands)
	2023		2022
Compensation expense	$	143	$	176
Tax benefit		(30)		(37)
Net income effect	$	113	$	139

Summary of Non-Vested Restricted Shares Activity

The following table presents a summary of non-vested restricted shares activity for 2023.

		Weighted
		Average
		Grant Date
	Shares	Fair Value
Non-vested at January 1, 2023	20,975	$	17.10
Vested	(7,062)		18.92
Forfeited	—		—
Granted	11,409		16.25
Non-vested at December 31, 2023	25,322	$	16.21

Schedule of Stock Options Activity

A summary of the status of the outstanding stock options as of December 31, 2023 and 2022, and changes during the years ending on those dates is presented below:

	2023			2022
		Weighted			Weighted
		Average			Average
		Exercise			Exercise
	Shares	Price		Shares	Price
Outstanding at beginning of year	60,347	$	17.78	71,947	$	17.78
Granted	—		—	—		—
Exercised	—		—	—		—
Expired	(9,922)		17.65	(11,600)		18.00
Outstanding at end of year	50,425	$	17.76	60,347	$	17.78
Options exercisable at year-end	50,425			60,347
Weighted-average fair value of options granted during the year		$	—		$	—
Intrinsic value of options exercised during the year		$	—		$	—
Intrinsic value of options cancelled during the year		$	—
Intrinsic value of options outstanding and exercisable at December 31, 2023		$	—