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Stock Options and Other Equity-Based Incentive Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]  
Stock Option Activity Stock option activity is summarized in the following table for the dates indicated:
Number of
Shares
Option Price
per Share
Weighted
Average
Exercise
Price
Outstanding at January 1, 2021
128,500 
$14.54 to $23.21
$17.72 
Options granted— — — 
Options exercised(49,675)
$14.54 to $16.59
$15.25 
Options forfeited— — — 
Outstanding at December 31, 2021
78,825 
$15.34 to $23.21
$19.28 
Options granted— — — 
Options exercised(63,325)
$15.34 to $19.46
$18.79 
Options forfeited— — — 
Outstanding at December 31, 202215,500 
$19.46 to $23.21
$21.27 
Summary of Options Outstanding The following table shows the number, weighted-average exercise price, intrinsic value, and weighted average remaining contractual life of options exercisable, options not yet exercisable and total options outstanding as of December 31, 2022:
Currently
Exercisable
Currently Not
Exercisable
Total
Outstanding
Number of options15,500 — 15,500 
Weighted average exercise price$21.27 $— $21.27 
Intrinsic value (in thousands)$461 $— $461 
Weighted average remaining contractual term (yrs.)1 yearn/a1 year
Information about Options
The following table shows the total intrinsic value of options exercised, the total fair value of options vested, total compensation costs for options recognized in income, total tax benefit and excess tax benefits recognized in income related to compensation costs for options during the periods indicated:
 Year Ended December 31,
 202220212020
Intrinsic value of options exercised$1,190,000 $1,476,000 $403,000 
Fair value of options that vested— — — 
Total compensation costs for options recognized in expense— — — 
Total tax benefit recognized in income related to compensation costs for options— — — 
Excess tax benefit recognized in income— — — 
Restricted Stock Unit (RSU) Activity Restricted stock unit activity is summarized in the following table for the dates indicated:
 Service Condition Vesting RSUsMarket Plus Service Condition
Vesting RSUs
 Number
of RSUs
Weighted Average
Fair Value on
Date of Grant
Number of
RSUs
Weighted Average
Fair Value on
Date of Grant
Outstanding at January 1, 2022
103,517 99,763 
RSUs granted84,278 $44.00 37,877 $40.74 
Additional market plus service condition RSUs vested— 4,740 
RSUs added through dividend credits2,896 — 
RSUs released through vesting(50,076)(26,338)
RSUs forfeited/expired(1,421)(1,561)
Outstanding at December 31, 2022139,194 114,481 
Summary of Compensation Costs and Excess Tax Benefits for RSUs The following table shows the compensation costs and excess tax benefits for RSUs recognized in income for the periods indicated:
 Year Ended December 31,
 202220212020
Total compensation costs recognized in income
Service condition vesting RSUs$2,883,000 $1,728,000 $1,390,000 
Market plus service condition vesting RSUs986,000 910,000 646,000 
Excess tax benefit recognized in income
Service condition vesting RSUs$1,079,000 $626,000 $372,000 
Market plus service condition vesting RSUs355,000 226,000 194,000