Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Activity in Outstanding Stock Options

A summary of activity in the outstanding stock options for the years ended December 31, 2023 and 2022 is presented below:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Range of Exercise Prices
Outstanding at January 1, 2023		343,679		$	24.06		5.45
Granted		21,500			33.63
Exercised		(24,229	)		14.66
Forfeited		(600	)		27.00
Outstanding at December 31, 2023		340,350		$	25.32		5.07	$15.00 to $36.16
Exercisable at December 31, 2023		263,200		$	23.65		4.28	$15.00 to $36.16
Outstanding at January 1, 2022		367,129		$	23.14		6.03
Granted		29,500			33.47
Exercised		(29,450	)		19.47
Forfeited		(23,500	)		27.25
Outstanding at December 31, 2022		343,679		$	24.06		5.45	$12.47 to $36.16
Exercisable at December 31, 2022		246,679		$	22.03		4.60	$12.47 to $36.16

Schedule of Stock Options Weighted Average Assumptions Using Black-Scholes Option Pricing Model

The calculated value of each grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions:

	2023			2022
Dividend yield (after three years)		1.50	%		1.50	%
Expected life in years		7			7
Expected volatility		10.00	%		10.00	%
Risk free interest rate		3.89	%		2.87	%

Schedule of Nonvested Restricted Stock Units Activity

The following table summarizes restricted stock activity:

	Restricted Stock
	Shares			Weighted Average Grant Date Fair Value
Year Ended December 31, 2023
Non-vested at beginning of year		65,750		$	31.55
Granted		13,000			33.47
Vested		(11,617	)		31.40
Forfeited		(1,400	)		31.20
Non-vested at end of year		65,733		$	31.96
	Restricted Stock
	Shares			Weighted Average Grant Date Fair Value
Year Ended December 31, 2022
Non-vested at beginning of year		-			-
Granted		65,750		$	31.55
Vested		-			-
Forfeited		-			-
Non-vested at end of year		65,750		$	31.55