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Stock-Based Compensation Plans (Tables)
9 Months Ended
Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Compensation Expense
The Company recorded the following stock compensation expense in its consolidated statements of income (in thousands):
Three Months endedNine Months ended
September 30,September 30,
2024202320242023
Stock option grants$19 $16 $58 $49 
Restricted stock awards314 255 955 773 
Annual director stock award— — 600 600 
Employee stock grant— — — 50 
$333 $271 $1,613 $1,472 
Schedule of Changes in Outstanding Options
A summary of changes in outstanding options is presented below (in thousands, except share and per share amounts):
OptionsNumber
Of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Term (yrs)
Weighted
Average
Grant Date
Fair Value(000's)
Outstanding at January 1, 2024126,880$20.00 3.5$981 
Time-based awards granted12,20031.44 150 
Performance-based awards granted20,33031.44 250 
Outstanding at September 30, 2024159,410$22.33 4.0$1,381 
Exercisable at September 30, 2024126,880$20.00 2.7$981 
Vested during three months ended
September 30, 2024
$— 
Schedule 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):
Restricted stockNumber
Of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Term (yrs)
Weighted
Average
Grant Date
Fair Value(000's)
Non-vested at January 1, 2024109,454$26.47 2.8$2,897 
Time-based awards granted12,78031.30 400 
Performance-based awards granted29,89031.05 928 
Vested(8,684)29.16 (253)
Non-vested at September 30, 2024143,440$27.44 2.8$3,972