BENEFITS	9 Months Ended
Sep. 30, 2018
Retirement Benefits [Abstract]
BENEFITS	NOTE 8 – BENEFITS Salisbury’s 401(k) Plan expense was $240,000 and $210,000, respectively, for the three month periods ended September 30, 2018 and 2017, and $765,000 and $681,000, respectively, for the nine month periods ended September 30, 2018 and 2017. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $19,000 and $53,000, respectively, for the three month periods ended September 30, 2018 and 2017, and $20,000 and $88,000, respectively, for the nine month periods ended September 30, 2018 and 2017. ESOP Salisbury offers an ESOP to eligible employees. Under the Plan, Salisbury may make discretionary contributions to the Plan, which generally vest in full upon six years of qualified service. Salisbury’s ESOP expense was $62,000 and $34,000, respectively, for the three month periods ended September 30, 2018 and 2017, and $188,000 and $83,000, respectively, for the nine month periods ended September 30, 2018 and 2017. Other Retirement Plans A Non-Qualified Deferred Compensation Plan (the "Plan") was adopted effective January 1, 2013. This Plan was adopted by the Bank for the benefit of certain key employees ("Executive" or "Executives") who have been selected and approved by the Bank to participate in this Plan and who have evidenced their participation by execution of a Non-Qualified Deferred Compensation Plan Participation Agreement ("Participation Agreement") in a form provided by the Bank. This Plan is intended to comply with Internal Revenue Code ("Code") Section 409A and any regulatory or other guidance issued under such Section. Salisbury’s expense for this plan was $28 thousand and $36 thousand, respectively, for the three month periods ended September 30, 2018 and 2017, and $85 thousand and $77 thousand, respectively, for the nine month periods ended September 30, 2018 and 2017. On January 19, 2018, the Compensation Committee granted a total of 53,500 Phantom Stock Appreciation Units pursuant to the 2013 Phantom Stock Appreciation Unit and Long-Term Incentive Plan (the “Plan”), including 20,000 units to three Named Executive Officers. Mr. Cantele received 10,000 units, Mr. Davies received 5,000 units and Mr. Albero received 5,000 units. The units will vest on the third anniversary of the grant date. Salisbury’s expense for all Phantom Stock Appreciation Units was $60 thousand and $53 thousand, respectively, for the three month periods ended September 30, 2018 and 2017, and $180 thousand and $87 thousand, respectively, for the nine month periods ended September 30, 2018 and 2017. Grants of Restricted Stock and Options Restricted stock Restricted stock expense was $105 thousand and $74 thousand, respectively, for the three month periods ended September 30, 2018 and 2017, and $260 thousand and $194 thousand, respectively, for the nine month periods ended September 30, 2018 and 2017. In second quarter 2018, Salisbury granted a total of 13,210 shares of restricted stock to certain employees and Directors pursuant to its 2017 Long Term Incentive Plan. The fair value of the stock at grant date was $585,000. The restricted stock will vest three years from the grant date. Unrecognized compensation cost relating to the awards as of September 30, 2018 and 2017 totaled $857 thousand and $660 thousand, respectively. There were no forfeitures in the third quarter of 2018 or 2017, and year to date for 2018 and 2017 there were 0 and 200 shares forfeited, respectively. Options Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In the first quarter 2018, 1,350 stock options were exercised at $31.11 per share by one former Riverside Bank executive, who is currently a Named Executive Officer of Salisbury. In the second quarter 2018, there were 3,350 stock options exercised at $31.11 by two employees. In the third quarter 2018, there were 1,755 stock options exercised at $16.94 by one former Riverside employee. In the first quarter 2017, 12,150 stock options were exercised at $25.93 by former Riverside Bank executives. No stock options were exercised in the third or second quarters of 2017.

BENEFITS

9 Months Ended

Sep. 30, 2018

NOTE 8 – BENEFITS

Salisbury’s 401(k) Plan expense was $240,000 and $210,000, respectively, for the three month periods ended September 30, 2018 and 2017, and $765,000 and $681,000, respectively, for the nine month periods ended September 30, 2018 and 2017. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $19,000 and $53,000, respectively, for the three month periods ended September 30, 2018 and 2017, and $20,000 and $88,000, respectively, for the nine month periods ended September 30, 2018 and 2017.

ESOP

Salisbury offers an ESOP to eligible employees. Under the Plan, Salisbury may make discretionary contributions to the Plan, which generally vest in full upon six years of qualified service. Salisbury’s ESOP expense was $62,000 and $34,000, respectively, for the three month periods ended September 30, 2018 and 2017, and $188,000 and $83,000, respectively, for the nine month periods ended September 30, 2018 and 2017.

Other Retirement Plans

A Non-Qualified Deferred Compensation Plan (the "Plan") was adopted effective January 1, 2013. This Plan was adopted by the Bank for the benefit of certain key employees ("Executive" or "Executives") who have been selected and approved by the Bank to participate in this Plan and who have evidenced their participation by execution of a Non-Qualified Deferred Compensation Plan Participation Agreement ("Participation Agreement") in a form provided by the Bank. This Plan is intended to comply with Internal Revenue Code ("Code") Section 409A and any regulatory or other guidance issued under such Section. Salisbury’s expense for this plan was $28 thousand and $36 thousand, respectively, for the three month periods ended September 30, 2018 and 2017, and $85 thousand and $77 thousand, respectively, for the nine month periods ended September 30, 2018 and 2017.

On January 19, 2018, the Compensation Committee granted a total of 53,500 Phantom Stock Appreciation Units pursuant to the 2013 Phantom Stock Appreciation Unit and Long-Term Incentive Plan (the “Plan”), including 20,000 units to three Named Executive Officers. Mr. Cantele received 10,000 units, Mr. Davies received 5,000 units and Mr. Albero received 5,000 units. The units will vest on the third anniversary of the grant date. Salisbury’s expense for all Phantom Stock Appreciation Units was $60 thousand and $53 thousand, respectively, for the three month periods ended September 30, 2018 and 2017, and $180 thousand and $87 thousand, respectively, for the nine month periods ended September 30, 2018 and 2017.

Grants of Restricted Stock and Options

Restricted stock

Restricted stock expense was $105 thousand and $74 thousand, respectively, for the three month periods ended September 30, 2018 and 2017, and $260 thousand and $194 thousand, respectively, for the nine month periods ended September 30, 2018 and 2017. In second quarter 2018, Salisbury granted a total of 13,210 shares of restricted stock to certain employees and Directors pursuant to its 2017 Long Term Incentive Plan. The fair value of the stock at grant date was $585,000. The restricted stock will vest three years from the grant date. Unrecognized compensation cost relating to the awards as of September 30, 2018 and 2017 totaled $857 thousand and $660 thousand, respectively. There were no forfeitures in the third quarter of 2018 or 2017, and year to date for 2018 and 2017 there were 0 and 200 shares forfeited, respectively.

Options

Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In the first quarter 2018, 1,350 stock options were exercised at $31.11 per share by one former Riverside Bank executive, who is currently a Named Executive Officer of Salisbury. In the second quarter 2018, there were 3,350 stock options exercised at $31.11 by two employees. In the third quarter 2018, there were 1,755 stock options exercised at $16.94 by one former Riverside employee. In the first quarter 2017, 12,150 stock options were exercised at $25.93 by former Riverside Bank executives. No stock options were exercised in the third or second quarters of 2017.