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

3 Months Ended

Mar. 31, 2025

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 March 31, 2025:

Performance Condition Grants
Target performance	234,254
Maximum performance	307,689

Schedule of Stock Grant Activity

The following is a summary of the Company’s stock grant activity, both time and performance unit grants, assuming target achievement for outstanding performance grants for the three months ended March 31, 2025:

	March 31, 2025
Stock grants outstanding beginning of period at target achievement	312,564
New stock grants/additional shares due to achievement in excess of target	15,418
Vested grants	(25,012)
Expired/forfeited grants	(10,966)
Stock grants outstanding end of period at target achievement	292,004

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, 2025:

($ in thousands except for share prices)
Grant date	12/14/2022	06/16/2023	08/21/2023
Vesting end	12/14/2025	12/31/2025	12/31/2025
Target share price to achieve award	$21.99	$20.72	$19.20
Expected volatility	32.14%	26.58%	25.55%
Risk-free interest rate	3.84%	4.38%	4.74%
Simulated Monte Carlo share price	$26.00	$20.24	$17.88
Shares granted	4,613	9,515	1,650
Total fair value of award	$120	$193	$30

($ in thousands except for share prices)
Grant date	12/16/2023	03/13/2024	12/11/2024
Vesting end	12/31/2026	03/22/2027	12/10/2027
Share price at target achievement	$19.65	$18.93	$18.59
Expected volatility	25.91%	25.56%	26.90%
Risk-free interest rate	4.02%	4.31%	4.01%
Simulated Monte Carlo share price	$19.74	$18.36	$18.55
Shares granted	4,828	15,225	2,315
Total fair value of award	$95	$280	$43

Schedule of Stock Compensation Costs for Employee and NDSI Plans

The following table summarizes stock compensation costs for the Company's 2023 Stock Incentive Plan, 1998 Stock Incentive Plan, and the prior Non-Employee Director Stock Incentive Plan for the following periods:

($ in thousands)	Three Months Ended March 31,
Employee	2025		2024
Expensed	$	459	$	375
Capitalized	178		239
	637		614
Director	207		138
Total stock compensation costs	$	844	$	752