On July 25, 2013, the Company adopted the 2013 Equity Based Stock Compensation Plan (“2013 EBSC Plan”) approved by its shareholders to replace the 2003 Stock Option Plan. The 2013 EBSC Plan provides 1,114,446 shares of common stock for equity based compensation awards including incentive and non-qualified stock options and restricted stock awards. As of June 30, 2022, there were 414,370 shares available for future grants.

The following table presents share-based compensation expense and the related tax benefits for the periods indicated:


	Three Months Ended June 30,				Six Months Ended June 30,
($ in thousands)	2022		2021		2022		2021
Share-based compensation expense related to:
Stock options	$	43	$	50	$	90	$	78
Restricted stock awards	99		67		193		6,129
Total share-based compensation expense	$	142	$	117	$	283	$	207
Related tax benefits	$	31	$	21	$	60	$	41

The following table presents unrecognized share-based compensation expense as of the date indicated:

June 30, 2022

($ in thousands)

Unrecognized Expense

Weighted-Average Remaining Expected Recognition Period

Unrecognized share-based compensation expense related to:

Stock options

401

3.3 years

Restricted stock awards

901

3.1 years

Total unrecognized share-based compensation expense

1,302

3.2 years


	Three Months Ended June 30, 2022
($ in thousands except per share data)	Number of Shares	Weighted-Average Exercise Price Per Share		Weighted-Average Contractual Term	Aggregated Intrinsic Value
Outstanding at beginning of period	608,734	$	12.24	4.7 years	$	6,519

Exercised	(12,097)	$	7.07	1.6 years
Forfeited	(1,000)	$	15.50	5.5 years
Outstanding at end of period	595,637	$	12.34	4.5 years	$	3,776
Exercisable at end of period	481,637	$	10.85	3.6 years	$	3,770


	Six Months Ended June 30, 2022
($ in thousands except per share data)	Number of Shares	Weighted-Average Exercise Price Per Share		Weighted-Average Contractual Term	Aggregated Intrinsic Value
Outstanding at beginning of period	632,772	$	11.47	4.54 years	$	6,641
Granted	30,000	$	22.61	10.00 years
Exercised	(66,135)	$	8.57	2.43 years
Forfeited	(1,000)	$	15.50	5.53 years
Outstanding at end of period	595,637	$	12.34	4.50 years	$	3,776
Exercisable at end of period	481,637	$	10.85	3.58 years	$	3,770

The following table represents information regarding unvested stock options for the periods indicated:


	Three Months Ended June 30, 2022			Six Months Ended June 30, 2022
	Number of Shares	Weighted-Average Exercise Price Per Share		Number of Shares	Weighted-Average Exercise Price Per Share
Outstanding at beginning of period	122,000	$	18.40	107,099	$	16.70
Granted	—	$	—	30,000	$	22.61
Vested	(7,000)	$	15.19	(22,099)	$	14.84
Forfeited	(1,000)	$	15.50	(1,000)	$	15.50
Outstanding at end of period	114,000	$	18.63	114,000	$	18.63


	Three Months Ended June 30, 2022			Six Months Ended June 30, 2022
	Number of Shares	Weighted-Average Grant Date Fair Value Per Share		Number of Shares	Weighted-Average Grant Date Fair Value Per Share
Outstanding at beginning of period	68,822	$	16.51	55,284	$	12.79
Granted	—	$	—	25,000	$	21.96
Vested	—	$	—	(11,262)	$	10.36
Forfeited	—	$	—	(200)	$	17.09
Outstanding at end of period	68,822	$	16.51	68,822	$	16.51