BENEFITS	9 Months Ended
Sep. 30, 2019
Retirement Benefits [Abstract]
BENEFITS	NOTE 9 – BENEFITS Salisbury's 401(k) Plan expense was $231 thousand and $244 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $662 thousand and $765 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $21 thousand and $19 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $69 thousand and $20 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018. ESOP Salisbury offers an ESOP to eligible employees. Under the Plan, Salisbury may make discretionary contributions to the Plan, which generally vests in full upon six years of qualified service. Salisbury's ESOP expense was $105 thousand and $62 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $207 thousand and $188 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018. 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 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 $29 thousand and $28 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $87 thousand and $85 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018. Grants of Restricted Stock and Options Restricted stock Restricted stock expense for awards granted to employees and Directors was $131 thousand and $127 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $348 thousand and $299 thousand, respectively for the nine month periods ended September 30, 2019 and 2018. The tax benefit from restricted stock expense was $24 thousand and $23 thousand, respectively for the three month periods ended September 30, 2019 and 2018; and $63 thousand and $54 thousand, respectively for the nine month periods ended September 30, 2019 and 2018. In second quarter 2019, Salisbury granted a total of 15,130 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 approximately $600 thousand. The restricted stock will vest three years from the grant date. Unrecognized compensation cost relating to the awards as of September 30, 2019 and 2018 totaled $933 thousand and $857 thousand, respectively. There were forfeitures of $10 thousand or 250 shares in the third quarter of 2019 and forfeitures of $31 thousand or 710 shares for year to date 2019. There were no forfeitures in the third quarter or nine month periods ended September 30, 2018. Performance-based restricted stock units On March 29, 2019, the Compensation Committee granted performance-based restricted stock units (RSU) pursuant to the 2017 Long-Term Incentive Plan to further align compensation with the Bank's performance. This RSU plan replaced the Bank's Phantom Stock Appreciation Units plan (Phantom). Salisbury will continue to record an expense for the Phantom plan until the final tranche of awards is paid out in January 2021. Salisbury's expense for the Phantom plan was $84 thousand and $56 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $203 thousand and $180 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018. The performance goal under the RSU plan is based on the increase in the Bank's tangible book value by $3.50 per share over the performance period for threshold performance. Vesting will range from 75% of target for achieving threshold performance, to 100% of target for achieving target payout performance ($5.00 increase in tangible book value per share) to 150% of target for achieving in excess of target payout performance and, if the performance goals are achieved, vesting will occur no later than March 29, 2022. Compensation expense of $23 thousand was recorded with respect to these RSUs in the three months ended September 30, 2019 and $46 thousand for the nine months ended September 30, 2019. No performance-based restricted stock units were awarded prior to March 29, 2019. Options Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In the first and third quarters of 2019 there were no stock options exercised. In the second quarter 2019, there were 2,025 stock options exercised at $17.04, by one employee. 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.

BENEFITS

9 Months Ended

Sep. 30, 2019

NOTE 9 – BENEFITS

Salisbury's 401(k) Plan expense was $231 thousand and $244 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $662 thousand and $765 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018. Other post-retirement benefit obligation expense for endorsement split-dollar life insurance arrangements was $21 thousand and $19 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $69 thousand and $20 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018.

ESOP

Salisbury offers an ESOP to eligible employees. Under the Plan, Salisbury may make discretionary contributions to the Plan, which generally vests in full upon six years of qualified service. Salisbury's ESOP expense was $105 thousand and $62 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $207 thousand and $188 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018.

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 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 $29 thousand and $28 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $87 thousand and $85 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018.

Grants of Restricted Stock and Options

Restricted stock

Restricted stock expense for awards granted to employees and Directors was $131 thousand and $127 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $348 thousand and $299 thousand, respectively for the nine month periods ended September 30, 2019 and 2018. The tax benefit from restricted stock expense was $24 thousand and $23 thousand, respectively for the three month periods ended September 30, 2019 and 2018; and $63 thousand and $54 thousand, respectively for the nine month periods ended September 30, 2019 and 2018. In second quarter 2019, Salisbury granted a total of 15,130 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 approximately $600 thousand. The restricted stock will vest three years from the grant date. Unrecognized compensation cost relating to the awards as of September 30, 2019 and 2018 totaled $933 thousand and $857 thousand, respectively. There were forfeitures of $10 thousand or 250 shares in the third quarter of 2019 and forfeitures of $31 thousand or 710 shares for year to date 2019. There were no forfeitures in the third quarter or nine month periods ended September 30, 2018.

Performance-based restricted stock units

On March 29, 2019, the Compensation Committee granted performance-based restricted stock units (RSU) pursuant to the 2017 Long-Term Incentive Plan to further align compensation with the Bank's performance. This RSU plan replaced the Bank's Phantom Stock Appreciation Units plan (Phantom). Salisbury will continue to record an expense for the Phantom plan until the final tranche of awards is paid out in January 2021. Salisbury's expense for the Phantom plan was $84 thousand and $56 thousand, respectively, for the three month periods ended September 30, 2019 and 2018, and $203 thousand and $180 thousand, respectively, for the nine month periods ended September 30, 2019 and 2018.

The performance goal under the RSU plan is based on the increase in the Bank's tangible book value by $3.50 per share over the performance period for threshold performance. Vesting will range from 75% of target for achieving threshold performance, to 100% of target for achieving target payout performance ($5.00 increase in tangible book value per share) to 150% of target for achieving in excess of target payout performance and, if the performance goals are achieved, vesting will occur no later than March 29, 2022. Compensation expense of $23 thousand was recorded with respect to these RSUs in the three months ended September 30, 2019 and $46 thousand for the nine months ended September 30, 2019. No performance-based restricted stock units were awarded prior to March 29, 2019.

Options

Salisbury issued stock options in conjunction with its acquisition of Riverside Bank in 2014. In the first and third quarters of 2019 there were no stock options exercised. In the second quarter 2019, there were 2,025 stock options exercised at $17.04, by one employee. 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.