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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of stock option activity

The following table summarizes the stock option activity during the year ended December 31, 2020:

			Shares						Weighted-Average Exercise Price
Outstanding at December 31, 2019			8,657						$	14.77
Exercised			(8,248)						14.77

Forfeited or expired			(409)						14.77
Outstanding at December 31, 2020			—						—

Schedule of restricted stock award activity

The following table summarizes the restricted stock award activity for the year ended December 31, 2020:

			Shares						Weighted-Average Grant Date Fair Value
Nonvested at December 31, 2019			20,707						$	17.59
Vested			(20,707)						17.59
Nonvested at December 31, 2020			—						—

Schedule of assumptions of PRSUs granted

The Company used the following assumptions to estimate the fair value of performance-based restricted share units granted for the periods indicated:

			Year Ended December 31,
			2022						2021						2020
Shares issued			15,464						14,347						15,200
Expected Term in Years			2.9						2.9						2.8
Weighted-Average Risk Free Interest Rate			1.7		%				0.3		%				1.1		%
Weighted Average Fair Value			25.87						24.49						23.5
Correlation coefficient			ABA NASDAQ Community Bank Index						ABA NASDAQ Community Bank Index						ABA NASDAQ Community Bank Index
Range of peer company volatilities			31.6%-77.8%						31.4%-136.4%						18.1%-107.6%
Range of peer company correlation coefficients			49.7%-94.4%						34.1%-94.8%						16.1%-90.2%
Company volatility			41.3		%				40.2		%				23.2		%
Company correlation coefficient			90.4		%				90.1		%				80.5		%

Summary of RSU activity

The following table summarizes the unit activity for the periods indicated:

			Units						Weighted-Average Grant Date Fair Value
Nonvested at December 31, 2019			233,540						$	30.41
Granted			200,972						23.61
Vested			(109,853)						29.21
Forfeited			(8,543)						28.07
Nonvested at December 31, 2020			316,116						26.57
Granted			147,944						25.70
Vested			(125,377)						26.84
Forfeited			(23,669)						27.20
Nonvested at December 31, 2021			315,014						26.01
Granted			230,402						25.72
Vested			(127,952)						26.99
Forfeited			(38,572)						26.73
Nonvested at December 31, 2022			378,892						$	25.42

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Schedule of Share-based Payment Award, Equity Instruments Other than Options, Valuation Assumptions [Table Text Block]

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Tabular disclosure of the changes in outstanding nonvested restricted stock units.

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Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value.

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