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STOCK-BASED COMPENSATION (Table)
 12 Months Ended
Dec. 31, 2018
Schedule of Stock-Based Compensation

The following tables provide information on stock-based compensation expense for 2018 and 2017.







 

 

 

 

 

 



 

December 31,

(Dollars in thousands)

 

2018

 

2017

Stock-based compensation expense

 

$

 447 

 

$

 1,055 

Excess tax benefits related to stock-based

 

 

 

 

 

 

compensation

 

 

 34 

 

 

 28 







 

 

 

 

 

 

 

 



 

December 31,

(Dollars in thousands)

 

2018

 

2017

Unrecognized stock-based compensation

 

 

 

 

 

 

 

 

expense

 

$

 223 

 

 

$

 801 

 

Weighted average period unrecognized

 

 

 

 

 

 

 

 

expense is expected to be recognized

 

 

 0.9 

years

 

 

 1.0 

years



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 two years ended December 31, 2018.

 





 

 

 

 

 

 

 

 

 

 

 



 

Year Ended December 31, 2018

 

Year Ended December 31, 2017

 



 

 

 

Weighted Average 

 

 

 

Weighted Average 

 



 

Number of

 

Exercise

 

Number of

 

Exercise

 



 

Shares

 

Prices

 

Shares

 

Prices

 

Outstanding at beginning of period

 

 62,429 

 

$

 8.47 

 

 62,086 

 

$

 8.29 

 

Granted

 

 -

 

 

 -

 

 1,202 

 

 

 16.65 

 

Exercised

 

 (35,180)

 

 

 7.54 

 

 (859)

 

 

 6.64 

 

Expired/Cancelled

 

 -

 

 

 -

 

 -

 

 

 -

 

Outstanding at end of period

 

 27,249 

 

$

 9.68 

 

 62,429 

 

$

 8.47 

 



 

 

 

 

 

 

 

 

 

 

 

Exercisable at end of period

 

 27,249 

 

$

 9.68 

 

 61,828 

 

$

 8.40 

 



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.







 

 

 

 

 

 



 

 

 

2017

Dividend yield

 

 

 

 

 0.84 

%

Expected volatility

 

 

 

 

 64.80 

%

Risk-free interest rate

 

 

 

 

 2.42 

%

Expected contract life (in years)

 

 

 

 

10 years

 



Equity Plan 2016 [Member]  
Schedule of Share-based Compensation, Restricted Stock and Units Award Activity

The following table summarizes restricted stock award activity for the Company under the 2016 Equity Plan for the two years ended December 31, 2018.

 







 

 

 

 

 

 

 

 

 

 

 



 

Year Ended December 31, 2018

 

Year Ended December 31, 2017

 



 

 

 

Weighted Average 

 

 

 

Weighted Average 

 



 

Number of

 

Grant Date

 

Number of

 

Grant Date

 



 

Shares

 

Fair Value

 

Shares

 

Fair Value

 

Nonvested at beginning of period

 

 15,913 

 

$

 15.39 

 

 17,066 

 

$

 11.46 

 

Granted

 

 15,826 

 

 

 18.63 

 

 22,927 

 

 

 16.71 

 

Vested

 

 (31,739)

 

 

 17.05 

 

 (24,080)

 

 

 13.86 

 

Cancelled

 

 -

 

 

 -

 

 -

 

 

 -

 

Nonvested at end of period

 

 -

 

$

 -

 

 15,913 

 

$

 15.39 

 



2016 and 2006 Plan [Member] | Restricted Stock Units [Member]  
Schedule of Share-based Compensation, Restricted Stock and Units 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 Equity Plan for the two years ended December 31, 2018. 







 

 

 

 

 

 

 

 

 

 

 



 

Year Ended December 31, 2018

 

Year Ended December 31, 2017

 



 

 

 

Weighted Average 

 

 

 

Weighted Average 

 



 

Number of

 

Grant Date

 

Number of

 

Grant Date

 



 

Shares

 

Fair Value

 

Shares

 

Fair Value

 

Outstanding at beginning of period

 

 90,266 

 

$

 12.08 

 

 46,342 

 

$

 10.64 

 

Granted

 

 11,194 

 

 

 17.36 

 

 43,924 

 

 

 13.59 

 

Vested

 

 (40,423)

 

 

 9.49 

 

 -

 

 

 -

 

Forfeited

 

 (22,475)

 

 

 16.55 

 

 -

 

 

 -

 

Outstanding at end of period

 

 38,562 

 

$

 14.69 

 

 90,266 

 

$

 12.08