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STOCK BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Changes in stock options outstanding
A summary of changes in stock options outstanding during the year ended December 31, 2022, is as follows:
 2022
 Number of
Options
(in thousands)		Weighted
average
exercise
price		Weighted
average
remaining
contractual life
(in years)		Aggregate
intrinsic
value (in
thousands)
Outstanding at beginning of year244 $17.10   
Granted11 22.00   
Exercised(11)16.93   
Expired— —   
Forfeit— — 
Outstanding at end of year244 $17.35 4.33$418 
Options exercisable at year end234 $17.14 4.13$418 
Assumptions used to calculate compensation expense and fair value of stock options granted The following assumptions were used to calculate the fair value of stock options granted each year: 
 2022 2021 
Dividend yield:2.6 - 3.9%2.4%
Risk-free interest rate:2.9 - 3.4%0.7%
Expected market price volatility:63.6 - 64.9%56.7%
Average expected life of stock options:4.5 years 4.5 years 
Share-based compensation expense
The Company recorded the following amounts related to the expense of the fair values of options during the years ended December 31, 2022 and 2021 (in thousands):
 2022 2021
Selling, general and administrative expenses and income from operations before income taxes$78 $50 
Benefit for income taxes(18)(12)
Effect on net income$60 $38 
At each of the years ended December 31, 2022 and 2021, the Company had $0.2 million of compensation expense related to the issuance of unrestricted shares.
Unrecognized compensation cost
As of December 31, 2022, the Company had less than $0.1 million of total unrecognized compensation expense related to stock options currently outstanding, to be recognized in future years, ending December 31, as follows (in thousands):
 Total gross unrecognized
compensation expense		Total tax benefit associated
with unrecognized
compensation expense		Total net
unrecognized
compensation expense
2023$33 $8 $25 
202410 2 8 
 $43 $10 $33