Stock Compensation Plan (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Fair Value of Options Assumed

The fair value of the options granted were determined using the following weighted-average assumptions as of the grant date:

	Years ended December 31,
	2019			2018		2017
Risk-free interest rate		1.77	%		n/a		2.07	%
Expected term		7 year			n/a		7 year
Expected stock price volatility		26.06	%		n/a		33.30	%
Dividend yield		3.41	%		n/a		2.74	%

Schedule of Share-based Compensation, Stock Options, Activity

A summary of option activity during 2019 is presented below:

(Dollars in thousands, except per share amounts)				Weighted		Weighted
				average		average
				exercise		remaining		Aggregate
				price		contractual		intrinsic
	Shares			per share		term		value
Outstanding at January 1, 2019		68,706		$	17.97		5.1 years	$	462
Granted		64,405		$	23.44
Effect of 5% stock dividend		6,504
Forfeited/expired		-		$	-
Exercised		(3,275	)	$	10.99
Outstanding at December 31, 2019		136,340		$	19.87		6.9 years	$	714
Exercisable at December 31, 2019		49,558		$	14.43		3.0 years	$	529
Fully vested options at December 31, 2019		49,558		$	14.43		3.0 years	$	529

Schedule of Stock Option Exercised Additional Information

Additional information about stock options exercised is presented below:

(Dollars in thousands)	Years ended December 31,
	2019		2018		2017
Intrinsic value of options exercised (on exercise date)	$	42	$	1,523	$	279
Cash received from options exercised		36		534		228
Excess tax benefit realized from options exercised	$	-	$	136	$	103

Schedule of Share-based Compensation Arrangements by Share-based Payment Award

(Dollars in thousands)
Year	Amount
2020	$	130
2021		104
2022		68
2023		40
Total	$	342

Restricted Stock [Member]

Schedule of Share-based Compensation Arrangements by Share-based Payment Award

(Dollars in thousands)
Year	Amount
2020	$	132
2021		58
2022		34
Total	$	224

Schedule of Nonvested Share Activity

A summary of nonvested restricted common stock activity during 2019 is presented below:

	Shares			Weighted average grant date price per share
Nonvested restricted common stock at January 1, 2019		16,800		$	25.87
Granted		3,416		$	23.44
Vested		(6,346	)	$	26.08
Effect of 5% stock dividend		682
Nonvested restricted common stock at December 31, 2019		14,552		$	23.98