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Stock Options | 3 Months Ended
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Mar. 31, 2021
Stock Options |
Stock Options | Note 5 — Stock Options ​ On April 5, 2012, the Board of Directors adopted the 2012 International Bancshares Corporation Stock Option Plan (the “2012 Plan”). There are 800,000 shares of common stock available for stock option grants under the 2012 Plan, which may be qualified incentive stock options (“ISOs”) or non-qualified stock options. Options granted may be exercisable for a period of up to 10 years from the date of grant, excluding ISOs granted to 10% shareholders, which may be exercisable for a period of up to only five years. As of March 31, 2021, 15,477 shares were available for future grants under the 2012 Plan. ​ A summary of option activity under the stock option plan for the three months ended March 31, 2021 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | ​ | ​ |  | Weighted |  |  | ​ | ​
​ | ​ | ​ | ​ | Weighted | ​ | average | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | average | ​ | remaining | ​ | Aggregate | ​
​ | ​ | Number of | ​ | exercise | ​ | contractual | ​ | intrinsic | ​
​ | ​ | options | ​ | price | ​ | term (years) | ​ | value ($) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (in Thousands) | ​
Options outstanding at December 31, 2020 |  | 651,127 | ​ | $ | 27.24 | ​ | ​ | ​ | ​ | ​ | ​
Plus: Options granted |  | — | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​
Less: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options exercised |  | 71,413 | ​ |  | 21.70 | ​ | ​ | ​ | ​ | ​ | ​
Options expired |  | — | ​ |  | — | ​ | ​ | ​ | ​ | ​ | ​
Options forfeited |  | 5,375 | ​ |  | 27.85 | ​ | ​ | ​ | ​ | ​ | ​
Options outstanding at March 31, 2021 |  | 574,339 | ​ |  | 27.92 |  | 5.00 | ​ | $ | 10,624 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options fully vested and exercisable at March 31, 2021 |  | 342,257 | ​ | $ | 23.26 |  | 3.47 | ​ | $ | 7,928 | ​
​ Stock-based compensation expense included in the consolidated statements of income for the three months ended March 31, 2021 and March 31, 2020 was $159,000 and $219,000, respectively. As of March 31, 2021, there was approximately $1,095,000 of total unrecognized stock-based compensation cost related to non-vested options granted under our plans that will be recognized over a weighted average period of 1.6 years.

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