STOCK COMPENSATION - RESTRICTED STOCK AND PERFORMANCE SHARE GRANTS (Tables)

3 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Performance Share Grants with Performance Conditions

The following is a summary of the Company’s Performance Condition Grants outstanding as of the three months ended March 31, 2023:

Performance Condition Grants
Target performance	36,020
Maximum performance	112,831

Schedule of Stock Grant Activity

The following is a summary of the Company’s stock grant activity, both time and performance share grants, assuming target achievement for outstanding performance grants for the three months ended March 31, 2023:

	March 31, 2023
Stock Grants Outstanding Beginning of Period at Target Achievement	234,899
New Stock Grants/Additional Shares due to Achievement in Excess of Target	30,318
Vested Grants	(169,621)
Stock Grants Outstanding End of Period at Target Achievement	95,596

Schedule of Assumptions Used to Determine The Price of Market-Based Performance Condition Grants

The following is a summary of the assumptions used to determine the fair value for the Company’s outstanding market-based Performance Condition Grants as of March 31, 2023:

($ in thousands except for share prices)
Grant date	12/11/2020	03/18/2021	12/16/2021	03/17/2022	12/14/2022
Vesting end	12/31/2023	03/18/2024	12/16/2024	03/17/2025	12/14/2025
Target share price to achieve award	$17.07	$20.02	$21.58	$20.43	$21.99
Expected volatility	29.25%	30.30%	31.29%	31.54%	32.14%
Risk-free interest rate	0.19%	0.33%	0.92%	2.13%	3.84%
Fair value per share at grant date	$15.59	$18.82	$21.48	$21.75	$26.00
Shares granted	3,628	10,905	3,536	13,338	4,613
Total fair value of award	$57	$205	$76	$290	$120

Schedule of Stock Compensation Costs for Employee and NDSI Plans

The following table summarizes stock compensation costs for the Company's 1998 Stock Incentive Plan, or the Employee Plan, and NDSI Plan for the following periods:

($ in thousands)	Three Months Ended March 31,
Employee Plan:	2023		2022
Expensed	$	468	$	1,067
Capitalized	153		170
	621		1,237
NDSI Plan - Expensed	153		152
Total Stock Compensation Costs	$	774	$	1,389