v3.26.1
STOCK-BASED COMPENSATION PLANS (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense (Benefit)
The following is a summary of stock-based compensation expense (benefit):
Three Months Ended June 30,Six Months Ended June 30,
(dollars in thousands)2026202520262025
Restricted stock units$336 $305 $653 $578 
Performance restricted stock units139 150 299 296 
Total awards classified as equity475 455 952 874 
Stock appreciation rights327 147 370 138 
Total stock-based compensation expense$802 $602 $1,322 $1,012 
Schedule of Restricted Stock Units
The following is a summary of restricted stock unit activity:
Three Months Ended June 30,
20262025
Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value		Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value
Beginning balance104,150 $25.28 94,947 $22.20 
Granted— — — — 
Vested— — — — 
Forfeited(1,173)26.49 — — 
Ending balance102,977 $25.26 94,947 $22.20 
Six Months Ended June 30,
20262025
Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value		Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value
Beginning balance94,947$22.20 108,603$19.71 
Granted61,42827.02 43,39725.00 
Vested(52,225)21.74 (56,922)19.59 
Forfeited(1,173)26.49 (131)19.06 
Ending balance102,977$25.26 94,947$22.20 
The following is a summary of performance restricted stock unit activity:
Three Months Ended June 30,
20262025
Performance
Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value		Performance
Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value
Beginning balance54,369$23.46 53,625$22.07 
Granted—— —— 
Adjustment for performance condition—— —— 
Vested—— —— 
Forfeited(889)26.96 —— 
Ending balance53,480$23.40 53,625$22.07 
Six Months Ended June 30,
20262025
Performance
Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value		Performance
Restricted
Stock Units		Weighted
Average
Grant Date
Fair Value
Beginning balance53,625 $22.07 70,333 $19.59 
Granted17,774 26.96 16,662 25.00 
Adjustment for performance condition8,517 22.72 11,864 18.66 
Vested(25,547)22.72 (42,783)18.66 
Forfeited(889)26.96 (2,451)16.27 
Ending balance53,480 $23.40 53,625 $22.07 
Schedule of Stock Appreciation Rights
The following is a summary of stock appreciation rights activity:
Three Months Ended June 30,
20262025
Stock
Appreciation
Rights
Outstanding		Weighted
Average
Grant Date
Assigned Value		Stock
Appreciation
Rights
Outstanding		Weighted
Average
Grant Date
Assigned Value
Beginning balance67,320$16.32 67,320$16.32 
Granted—— —— 
Exercised—— —— 
Expired—— —— 
Forfeited—— —— 
Ending balance67,320$16.32 67,320$16.32 
Six Months Ended June 30,
20262025
Stock
Appreciation
Rights		Weighted
Average
Grant Date
Assigned Value		Stock
Appreciation
Rights		Weighted
Average
Grant Date
Assigned Value
Beginning balance67,320$16.32 73,440$16.32 
Granted—— —— 
Exercised—— (6,120)16.32 
Expired—— —— 
Forfeited—— —— 
Ending balance67,320$16.32 67,320$16.32 
Schedule of Option Pricing Model to Value the Stock Appreciation Rights The Company uses an option pricing model to value the stock appreciation rights, using the assumptions in the following table. Expected volatility is derived from the historical volatility of the Company’s stock price.
June 30, 2026December 31, 2025
Risk-free interest rate4.16 %3.61 %
Expected volatility28.78 %29.60 %
Expected life (in years)3.23.7
Expected dividend yield2.88 %3.25 %