STOCK-BASED COMPENSATION PLANS (Tables)

9 Months Ended

Sep. 30, 2022

STOCK-BASED COMPENSATION PLANS

Summary of stock-based compensation expense

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021
	(dollars in thousands)
Restricted stock units	$	230	$	153	$	1,072	$	415
Performance restricted stock units		119		75		530		123
Total awards classified as equity		349		228		1,602		538
Stock appreciation rights		51		(87)		35		43
Total stock-based compensation expense	$	400	$	141	$	1,637	$	581

Schedule of the summary of outstanding restricted stock units

	Three Months Ended September 30,
	2022			2021
		Weighted			Weighted
		Average			Average
	Restricted	Grant Date		Restricted	Grant Date
	Stock Units	Fair Value		Stock Units	Fair Value
Beginning balance	120,631	$	17.98	99,597	$	17.37
Granted	—		—	—		—
Vested	—		—	—		—
Forfeited	(1,328)		18.35	—		—
Ending balance	119,303	$	17.98	99,597	$	17.37
	Nine Months Ended September 30,
	2022			2021
		Weighted			Weighted
		Average			Average
	Restricted	Grant Date		Restricted	Grant Date
	Stock Units	Fair Value		Stock Units	Fair Value
Beginning balance	109,244	$	17.27	71,000	$	18.98
Granted	46,312		19.11	50,347		15.72
Vested	(34,925)		17.26	(20,225)		18.86
Forfeited	(1,328)		18.35	(1,525)		18.11
Ending balance	119,303	$	17.98	99,597	$	17.37

Schedule of the status of stock appreciation rights and changes

	Three Months Ended September 30,
	2022			2021
	Stock Appreciation Rights Outstanding	Weighted Average Grant Date Assigned Value		Stock Appreciation Rights Outstanding	Weighted Average Grant Date Assigned Value
Beginning balance	91,800	$	16.32	97,920	$	16.32
Granted	—		—	—		—
Exercised	—		—	—		—
Expired	—		—	—		—
Forfeited	—		—	—		—
Ending balance	91,800	$	16.32	97,920	$	16.32
	Nine Months Ended September 30,
	2022			2021
	Stock Appreciation Rights	Weighted Average Grant Date Assigned Value		Stock Appreciation Rights	Weighted Average Grant Date Assigned Value
Beginning balance	97,920	$	16.32	105,570	$	16.32
Granted	—		—	—		—
Exercised	(6,120)		16.32	(6,120)		16.32
Expired	—		—	(1,530)		16.32
Forfeited	—		—	—		—
Ending balance	91,800	$	16.32	97,920	$	16.32

A further summary of stock appreciation rights as of September 30, 2022, is as follows:

			Weighted Average
	Stock Appreciation Rights		Remaining
Grant Date Assigned Values	Outstanding	Exercisable	Contractual Term
$ 16.32	91,800	85,680	6.5	years

Schedule of assumptions used in valuing stock appreciation rights

	September 30, 2022			December 31, 2021
Risk-free interest rate		3.97	%		1.40	%
Expected volatility		36.17	%		35.52	%
Expected life (in years)		6.9			7.7
Expected dividend yield		3.53	%		3.20	%

Performance Shares

STOCK-BASED COMPENSATION PLANS

Schedule of the summary of outstanding restricted stock units

	Three Months Ended September 30,
	2022			2021
		Weighted			Weighted
	Performance	Average		Performance	Average
	Restricted	Grant Date		Restricted	Grant Date
	Stock Units	Fair Value		Stock Units	Fair Value
Beginning balance	62,067	$	17.02	28,697	$	15.53
Granted	—		—	—		—
Vested	—		—	—		—
Forfeited	—		—	—		—
Ending balance	62,067	$	17.02	28,697	$	15.53
	Nine months ended September 30,
	2022			2021
		Weighted			Weighted
	Performance	Average		Performance	Average
	Restricted	Grant Date		Restricted	Grant Date
	Stock Units	Fair Value		Stock Units	Fair Value
Beginning balance	38,344	$	15.72	—	$	—
Granted	23,723		19.14	28,697		15.53
Vested	—		—	—		—
Forfeited	—		—	—		—
Ending balance	62,067	$	17.02	28,697	$	15.53