Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Stock compensation expense

The Company recorded the following Stock compensation expense in its consolidated statements of income (in thousands):

	Three Months ended
	March 31,
	2024		2023
Stock option grants	$	19		17
Restricted stock awards		301		257
Employee stock grant		—		50
	$	320		324

Summary of changes in outstanding options

A Summary of changes in outstanding options is presented below (in thousands, except share and per share amounts):

			Weighted		Weighted	Weighted
	Number		Average		Average	Average
	Of		Exercise		Remaining	Grant Date
Options	Shares		Price		Term (yrs)	Fair Value(000's)
Outstanding at January 1, 2024		126,880	$	20.00	3.5	$	981
Time-based awards granted		12,200		31.44			150
Performance-based awards granted		20,330		31.44			250
Outstanding at March 31, 2024		159,410	$	22.33	4.5	$	1,381
Exercisable at March 31, 2024		126,880	$	20.00	3.2	$	981
Vested during three months ended March 31, 2024		—				$	—

Summary of changes in restricted stock awards

A Summary of changes in restricted stock awards is presented below (in thousands, except share and per share amounts):

				Weighted		Weighted	Weighted
	Number			Average		Average	Average
	Of			Exercise		Remaining	Grant Date
Restricted stock	Shares			Price		Term (yrs)	Fair Value(000's)
Non-vested at January 1, 2024		109,454		$	26.47	2.8	$	2,897
Time-based awards granted		15,904			31.44			500
Performance-based awards granted		16,248			31.44			503
Vested		(8,684	)		29.16			(253	)
Non-vested at March 31, 2024		132,922		$	27.44	2.9	$	3,647