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Stock-Based Compensation
 3 Months Ended
Mar. 31, 2021
Stock-Based Compensation [Abstract]  
Stock-Based Compensation 4.           Stock-Based Compensation

No awards were granted during the three-month period ended March 31, 2021. As of March 31, 2021, there was $160,000 of total unrecognized compensation cost related to non-vested options granted in 2020 under the 2014 Equity Incentive Plan, which will be fully amortized by December 31, 2021. Compensation costs related to stock options amounted to $54,000 and $51,000 during the three-month periods ended March 31, 2021 and 2020, respectively.

A summary of the Company’s stock option activity for the three-month period ended March 31, 2021 is as follows:

Weighted

Average Exercise

Weighted Average

Aggregate

Price

Remaining

Intrinsic Value

Options

Per Share

Contractual Term

($000)

Outstanding at January 1, 2021

215,970

$

25.73

6.0

Yrs.

$

743

Granted

—

—

—

—

Exercised

(3,750)

19.03

2.6

28

Forfeited

(2,250)

33.72

7.7

—

Outstanding at March 31, 2021

209,970

$

25.76

5.8

Yrs.

$

758

Exercisable at March 31, 2021

176,220

$

25.54

5.1

Yrs.

$

758

Intrinsic value represents the amount by which the market price of the stock on the measurement date exceeded the exercise price of the option. The market price was $26.61 per share as of March 31, 2021 and $26.17 per share as of December 31, 2020.

A summary of the Company’s restricted stock activity for the three-month periods ended March 31, 2021 and 2020 is as follows:

2021

2020

Weighted-Average

Weighted-Average

Number of

Grant Date

Number of

Grant Date

Restricted Stock

Fair Value

Restricted Stock

Fair Value

Non-vested, January 1,

39,135

$

30.72

36,195

$

36.23

Granted

—

—

—

—

Vested

—

—

—

—

Forfeited

(3,900)

30.86

—

—

Non-vested, March 31,

35,235

$

30.71

36,195

$

36.23

The expected future compensation expense relating to the 35,235 shares of non-vested restricted stock outstanding as of March 31, 2021 is $998,000. This cost will be recognized over the remaining vesting period of 4.75 years. Compensation costs related to restricted stock amounted to $84,000 during the three-month periods ended March 31, 2021 and 2020.