Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock option activity

A summary of the activity of the Company’s stock options for the six months June 30, 2024 follows (in thousands, except per share amounts): 

	Number of Shares	Weighted Average Exercise Price
Options outstanding at December 31, 2023	—	$	—
Options issued at acquisition	390,462	13.23
Options granted	—	—
Options exercised	(5,017)	12.48
Options forfeited	—	—
Options outstanding at June 30, 2024	385,445	$	13.24

Information related to the stock option plan

Information related to the stock option plan is as follows (in thousands):

	For the Three Months Ended June 30,				For the Six Months  Ended June 30,
	2024		2023		2024		2023
Intrinsic value of options exercised	$	24	$	—	$	24	$	—
Cash received from options exercised	63		—		63		—
Excess tax expense realized for option exercises	6		—		6		—
Weighted average fair value of the assumed options	$	3,742	$	—	$	3,742	$	—

	Currently Exercisable		Currently Not Exercisable		Total Outstanding
Number of options	385,445		—		385,445
Weighted average exercise price	$	13.24	$	—	$	13.24
Intrinsic value (in thousands)	$	2,032	$	—	$	2,032
Weighted average remaining contractual term (yrs.)	4.30		—		4.30

Restricted common stock activity

The following table summarizes restricted stock activity for the quarter ended June 30, 2024 as follows:

	Shares	Weighted Average Grant-Date Fair Value
Nonvested outstanding shares at December 31, 2023	75,133	$	15.65
Granted	72,360	16.93
Vested	(43,558)	15.06
Forfeited	—	—
Nonvested outstanding shares at June 30, 2024	103,935	$	16.79