STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of compensation cost

The Company recognized compensation expense as follows for the three months ended March 31 (in thousands):

	Three Months Ended March 31,
	2024		2023
Total gross compensation expense	$	12	$	11
Total tax benefit associated with compensation expense	2		3
Total net compensation expense	$	10	$	8

Schedule of unrecognized compensation expense

As of March 31, 2024, the Company expects to record compensation expense in the future as follows (in thousands):

	Nine months ending December 31, 2024		Years ending December 31,
			2025		2026
Total gross unrecognized compensation expense	$	41	$	29	$	—

Equity-Based Compensation to Directors

At the discretion of the Board, each director may receive a portion of their fees payable in stock grants in lieu of cash compensation. At March 31, 2024 and 2023, the Company issued a total of 24,660 and 12,808 treasury stock to the members of the Board as a part of their compensation, respectively. The stock grants to the Board were vested upon grant and the Company recognized $0.2 million compensation expense at each of March 31, 2024 and 2023.