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STOCK-BASED COMPENSATION
 9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
STOCK-BASED COMPENSATION STOCK-BASED COMPENSATION
On March 27, 2018, the stockholders of Citizens Community Bancorp, Inc. approved the 2018 Equity Incentive Plan. The aggregate number of shares of common stock initially reserved and available for issuance under the 2018 Equity Incentive Plan was 350,000 shares. As of September 30, 2022, 221,030 restricted shares had been granted under this plan. This amount includes 11,834 shares of performance based restricted stock granted in 2019 and issued in January 2022 upon achievement of the performance criteria and completion of the three year performance period beginning in January 2019 and ending December 31, 2021. In addition, it includes 1,119 shares of performance based restricted stock granted in 2020 and 638 shares of performance based restricted stock granted in 2021 issued in August of 2022. Both of these issuances were approved by the Compensation Committee in accordance with plan documents and were to a former employee. As of September 30, 2022, no stock options had been granted under this plan.
In February 2008, the Company’s stockholders approved the Company’s 2008 Equity Incentive Plan for a term of 10 years. Due to the plan’s expiration, no new awards can be granted under this plan. As of September 30, 2022, there are no awarded unvested restricted shares and 63,400 awarded unexercised options remaining from the plan. Restricted shares granted under the 2008 Equity Incentive Plan were awarded at no cost to the employee and vest pro rata over a two to five-year period from the grant date. Options granted to date under this plan vest pro rata over a five-year period from the grant date. Unexercised incentive stock options expire within 10 years of the grant date.
Net compensation expense related to restricted stock awards from these plans was $255 and $647 for the three and nine months ended September 30, 2022, compared to $221 and $614 for the three and nine months ended September 30, 2021.

Restricted Common Stock Award
September 30, 2022December 31, 2021
Number of SharesWeighted
Average
Grant Price		Number of SharesWeighted
Average
Grant Price
Restricted Shares
Unvested and outstanding at beginning of year75,630 $11.20 57,242 $12.23 
Granted43,465 13.99 64,399 10.78 
Vested(26,157)11.28 (44,511)13.26 
Forfeited(2,126)11.10 (1,500)10.78 
Unvested and outstanding at end of period90,812 $12.51 75,630 $11.20 
The Company accounts for stock option-based employee compensation related to the Company’s 2008 Equity Incentive Plan and 2018 Equity Incentive Plan using the fair-value-based method. Accordingly, management records compensation expense based on the value of the award as measured on the grant date and then the Company recognizes that cost over the vesting period for the award. The compensation cost recognized for stock option-based employee compensation related to these plans for the three and nine month periods ended September 30, 2022 was $1 and $3, respectively. The compensation cost recognized for stock option-based employee compensation related to these plans for the three and nine month periods ended September 30, 2021 was $2 and $7, respectively.
Common Stock Option Awards
Option SharesWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term in Years		Aggregate
Intrinsic
Value
September 30, 2022
Outstanding at beginning of year65,900 $11.20 
Exercised(2,500)8.00 
Forfeited or expired— — 
Outstanding at end of period63,400 $11.33 4.02$85 
Exercisable at end of period61,800 $11.27 3.99$85 
December 31, 2021
Outstanding at beginning of year72,300 $11.05 
Exercised(5,800)8.99 
Forfeited or expired(600)13.76 
Outstanding at end of year65,900 $11.20 4.61$169 
Exercisable at end of year61,700 $11.03 4.54$169 
Information related to the 2008 Equity Incentive Plan for the respective periods follows:
Nine months ended September 30, 2022Twelve months ended December 31, 2021
Intrinsic value of options exercised$19 $28 
Cash received from options exercised$20 $52 
Tax benefit realized from options exercised$— $—