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Stock-Based Compensation (Tables)
 6 Months Ended
Jun. 30, 2017
Stock-Based Compensation [Abstract]  
Schedule of Stock-Based Compensation

The following tables provide information on stock-based compensation expense for the three and six months ended June 30, 2017 and 2016.

 





 

 

 

 

 

 

 

 

 

 

 

 

 



 

For Three Months Ended

 

 

For six months ended



 

June 30, 2017

 

 

June 30, 2017

(Dollars in thousands)

 

2017

 

2016

 

 

2017

 

2016

Stock-based compensation expense

 

$

 173 

 

$

 66 

 

 

$

 590 

 

$

 177 

Excess tax benefits related to stock-based

 

 

 

 

 

 

 

 

 

 

 

 

 

compensation

 

 

 11 

 

 

 -

 

 

 

 13 

 

 

 3 

 





 

 

 

 

 

 

 

 



 

June 30,

(Dollars in thousands)

 

2017

 

2016

Unrecognized stock-based compensation

 

 

 

 

 

 

 

 

expense

 

$

 354 

 

 

$

 179 

 

Weighted average period unrecognized

 

 

 

 

 

 

 

 

expense is expected to be recognized

 

 

 1.1 

years

 

 

 0.8 

years



Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following table summarizes restricted stock award activity for the Company under the 2016 Equity Plan for the six months ended June 30, 2017 and 2016.

 



 



 

 

 

 

 

 

 

 

 

 



 

Six Months Ended June 30, 2017

 

Six Months Ended June 30, 2016



 

 

 

Weighted Average 

 

 

 

Weighted Average 



 

Number of

 

Grant Date

 

Number of

 

Grant Date



 

Shares

 

Fair Value

 

Shares

 

Fair Value

Nonvested at beginning of period

 

 17,066 

 

$

 11.46 

 

 12,488 

 

$

 8.74 

Granted

 

 20,143 

 

 

 16.69 

 

 23,239 

 

 

 11.47 

Vested

 

 (21,296)

 

 

 13.47 

 

 (18,662)

 

 

 9.63 

Cancelled

 

 -

 

 

 -

 

 -

 

 

 -

Nonvested at end of period

 

 15,913 

 

$

 12.49 

 

 17,065 

 

$

 11.46 





Schedule of Share-based Compensation, Restricted Stock Award Activity

The following table summarizes restricted stock units activity based on management’s evaluation of the probable number of common stock awards to be issued at the end of the performance cycle for the Company under the 2016 and 2006 Equity Plans for the six months ended June 30, 2017 and 2016.



 



 



 

 

 

 

 

 

 

 

 

 



 

Six Months Ended June 30, 2017

 

Six Months Ended June 30, 2016



 

 

 

Weighted Average 

 

 

 

Weighted Average 



 

Number of

 

Grant Date

 

Number of

 

Grant Date



 

Shares

 

Fair Value

 

Shares

 

Fair Value

Outstanding at beginning of period

 

 46,342 

 

$

 10.64 

 

 26,943 

 

$

 9.49 

Granted

 

 -

 

 

 -

 

 24,433 

 

 

 11.68 

Vested

 

 -

 

 

 -

 

 -

 

 

 -

Forfeited

 

 -

 

 

 -

 

 (5,034)

 

 

 9.49 

Outstanding at end of period

 

 46,342 

 

$

 10.64 

 

 46,342 

 

$

 10.64 



Schedule of Share-based Compensation, Stock Options Activity

The following table summarizes stock option activity for the Company under the 2016 Equity Plan for the six months ended June 30, 2017 and 2016.







 

 

 

 

 

 

 

 

 

 



 

Six Months Ended June 30, 2017

 

Six Months Ended June 30, 2016



 

 

 

Weighted Average 

 

 

 

Weighted Average 



 

Number of

 

Grant Date

 

Number of

 

Grant Date



 

Shares

 

Fair Value

 

Shares

 

Fair Value

Outstanding at beginning of period

 

 62,086 

 

$

 8.29 

 

 61,327 

 

$

 8.05 

Granted

 

 1,202 

 

 

 10.99 

 

 12,443 

 

 

 11.12 

Exercised

 

 (859)

 

 

 6.64 

 

 (450)

 

 

 6.64 

Expired/Cancelled

 

 -

 

 

 -

 

 -

 

 

 -

Outstanding at end of period

 

 62,429 

 

$

 8.36 

 

 73,320 

 

$

 8.58 



 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

 61,828 

 

$

 8.34 

 

 69,990 

 

$

 8.46 



Schedule of Share-based Payment Award, Stock Option Valuation Assumptions

The following weighted average assumptions were used as inputs to the Black-Scholes valuation model for options granted in 2017 and 2016.









 

 

 

 

 

 



 

2017

 

2016

Dividend yield

 

 0.84 

%

 

 0.73 

%

Expected volatility

 

 64.80 

%

 

 38.60 

%

Expected forfeiture rate

 

 -

%

 

 -

%

Risk-free interest rate

 

 2.42 

%

 

 1.75 

%

Expected contract life (in years)

 

10 years

 

 

10 years