STOCK COMPENSATION - RESTRICTED STOCK AND PERFORMANCE SHARE GRANTS (Tables)

9 Months Ended

Sep. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Performance Share Grants with Performance Conditions

The following is a summary of the Company’s Performance Condition Grants outstanding as of September 30, 2023:

Performance Condition Grants
Target performance	221,245
Maximum performance	319,559

Schedule of Stock Grant Activity

The following is a summary of the Company’s stock grant activity, both time and performance share grants, assuming target achievement for outstanding performance grants for the nine months ended September 30, 2023:

	September 30, 2023
Stock Grants Outstanding Beginning of Period at Target Achievement	234,899
New Stock Grants/Additional Shares due to Achievement in Excess of Target	321,026
Vested Grants	(169,621)
Expired/Forfeited Grants	(16,610)
Stock Grants Outstanding End of Period at Target Achievement	369,694

Schedule of Assumptions Used to Determine The Price of Market-Based Performance Condition Grants

The following is a summary of the assumptions used to determine the fair value for the Company’s outstanding market-based Performance Condition Grants as of September 30, 2023:

($ in thousands except for share prices)
Grant date	12/11/2020	03/18/2021	12/16/2021	03/17/2022	12/14/2022	06/16/2023	06/16/2023
Vesting end	12/31/2023	03/18/2024	12/16/2024	03/17/2025	12/14/2025	12/31/2023	12/31/2025
Target share price to achieve award	$17.07	$20.02	$21.58	$20.43	$21.99	$19.24	$20.72
Expected volatility	29.25%	30.30%	31.29%	31.54%	32.14%	27.09%	26.58%
Risk-free interest rate	0.19%	0.33%	0.92%	2.13%	3.84%	5.2%	4.38%
Fair value per share at grant date	$15.59	$18.82	$21.48	$21.75	$26.00	$13.18	$20.24
Shares granted	3,628	10,905	3,536	13,338	4,613	33,035	28,545
Total fair value of award	$57	$205	$76	$290	$120	$435	$578

Schedule of Stock Compensation Costs for Employee and NDSI Plans

The following table summarizes stock compensation costs for the Company's 2023 Stock Incentive Plan, and outstanding grants for the 1998 Stock Incentive Plan, or the Employee Plan for the following periods:

($ in thousands)	Nine Months Ended September 30,
Employee:	2023		2022
Expensed	$	1,967	$	1,646
Capitalized	379		239
	2,346		1,885
Director - Expensed	402		442
Total Stock Compensation Costs	$	2,748	$	2,327