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STOCK-BASED COMPENSATION (Table)
 12 Months Ended
Dec. 31, 2017
Schedule of Stock-Based Compensation

The following tables provide information on stock-based compensation expense for 2017,  2016, and 2015.







 

 

 

 

 

 

 

 

 



 

December 31,

(Dollars in thousands)

 

2017

 

2016

 

2015

Stock-based compensation expense

 

$

 1,055 

 

$

 334 

 

$

 283 

Excess tax benefits related to stock-based

 

 

 

 

 

 

 

 

 

compensation

 

 

 28 

 

 

 27 

 

 

 3 







 

 

 

 

 

 

 

 

 

 

 

 



 

December 31,

(Dollars in thousands)

 

2017

 

2016

 

2015

Unrecognized stock-based compensation

 

 

 

 

 

 

 

 

 

 

 

 

expense

 

$

 801 

 

 

$

 337 

 

 

$

 222 

 

Weighted average period unrecognized

 

 

 

 

 

 

 

 

 

 

 

 

expense is expected to be recognized

 

 

 1.0 

years

 

 

 0.9 

years

 

 

 1.5 

years



Schedule of Share-based Compensation, Stock Options Activity

The following table summarizes stock option activity for the Company under the 2016 Equity Plan for the three years ended December 31, 2017.

 





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year Ended December 31, 2017

 

Year Ended December 31, 2016

 

Year Ended December 31, 2015



 

 

 

Weighted Average 

 

 

 

Weighted Average 

 

 

 

Weighted Average 



 

Number of

 

Exercise

 

Number of

 

Exercise

 

Number of

 

Exercise



 

Shares

 

Prices

 

Shares

 

Prices

 

Shares

 

Prices

Outstanding at beginning of period

 

 62,086 

 

$

 8.29 

 

 61,327 

 

$

 8.05 

 

 27,108 

 

$

 6.64 

Granted

 

 1,202 

 

 

 16.65 

 

 12,443 

 

 

 11.12 

 

 34,219 

 

 

 9.18 

Exercised

 

 (859)

 

 

 6.64 

 

 (11,684)

 

 

 6.64 

 

 -

 

 

 -

Expired/Cancelled

 

 -

 

 

 -

 

 -

 

 

 -

 

 -

 

 

 -

Outstanding at end of period

 

 62,429 

 

$

 8.47 

 

 62,086 

 

$

 8.29 

 

 61,327 

 

$

 8.05 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

 61,828 

 

$

 8.40 

 

 58,756 

 

$

 8.14 

 

 44,218 

 

$

 7.62 



Schedule of Share-based Payment Award, Stock Option Valuation Assumptions

The following weighted average assumptions were used as inputs to the Black-Scholes valuation model for options granted in 2017 and 2016.







 

 

 

 

 

 

 

 

 



 

2017

 

2016

 

2015

Dividend yield

 

 0.84 

%

 

 0.73 

%

 

 -

%

Expected volatility

 

 64.80 

%

 

 38.60 

%

 

 32.00 

%

Risk-free interest rate

 

 2.42 

%

 

 1.75 

%

 

 1.97 

%

Expected contract life (in years)

 

10 years

 

 

10 years

 

 

7 years

 



Equity Plan 2016 [Member]  
Schedule of Share-based Compensation, Restricted Stock and Units Award Activity

The following table summarizes restricted stock award activity for the Company under the 2016 Equity Plan for the three years ended December 31, 2017.

 







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year Ended December 31, 2017

 

Year Ended December 31, 2016

 

Year Ended December 31, 2015



 

 

 

Weighted Average 

 

 

 

Weighted Average 

 

 

 

Weighted Average 



 

Number of

 

Grant Date

 

Number of

 

Grant Date

 

Number of

 

Grant Date



 

Shares

 

Fair Value

 

Shares

 

Fair Value

 

Shares

 

Fair Value

Nonvested at beginning of period

 

 17,066 

 

$

 11.46 

 

 12,488 

 

$

 8.74 

 

 14,251 

 

$

 8.51 

Granted

 

 22,927 

 

 

 16.71 

 

 27,366 

 

 

 11.51 

 

 12,647 

 

 

 9.21 

Vested

 

 (24,080)

 

 

 13.86 

 

 (22,788)

 

 

 10.01 

 

 (14,410)

 

 

 8.93 

Cancelled

 

 -

 

 

 -

 

 -

 

 

 -

 

 -

 

 

 -

Nonvested at end of period

 

 15,913 

 

$

 15.39 

 

 17,066 

 

$

 11.46 

 

 12,488 

 

$

 8.74 



2016 and 2006 Plan [Member] | Restricted Stock Units (RSUs) [Member]  
Schedule of Share-based Compensation, Restricted Stock and Units Award Activity

The following table summarizes restricted stock units activity for the Company under the 2016 and 2006 Equity Plans for the three years ended December 31, 2017.







 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

Year Ended December 31, 2017

 

Year Ended December 31, 2016

 

Year Ended December 31, 2015



 

 

 

Weighted Average 

 

 

 

Weighted Average 

 

 

 

Weighted Average 



 

Number of

 

Grant Date

 

Number of

 

Grant Date

 

Number of

 

Grant Date



 

Shares

 

Fair Value

 

Shares

 

Fair Value

 

Shares

 

Fair Value

Outstanding at beginning of period

 

 46,342 

 

$

 10.64 

 

 26,943 

 

$

 9.49 

 

 -

 

$

 -

Granted

 

 43,924 

 

 

 13.59 

 

 24,433 

 

 

 11.68 

 

 26,943 

 

 

 9.49 

Vested

 

 -

 

 

 -

 

 -

 

 

 -

 

 -

 

 

 -

Forfeited

 

 -

 

 

 -

 

 (5,034)

 

 

 9.49 

 

 -

 

 

 -

Outstanding at end of period

 

 90,266 

 

$

 12.08 

 

 46,342 

 

$

 10.64 

 

 26,943 

 

$

 9.49