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Employee Benefit Plans | 12 Months Ended
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Dec. 31, 2019
Defined Benefit Plan [Abstract] |
Employee Benefit Plans | 401(k) Plan: The Company provides a deferred salary reduction plan (“Plan”) under Section 401 (k) of the Internal Revenue Code covering substantially all employees. After one year of service the Company matches 100% of employee contributions up to 3% of compensation and 50% of employee contributions on the next 2% of compensation. The Company's expense related to the Plan was $818 thousand in 2019 and $716 thousand in 2018. Stock Option Plans: The Compensation Committee of the Company’s Board of Directors may grant or award eligible participants stock options, restricted stock, restricted stock units, stock appreciation rights, and other stock-based awards or any combination of awards (collectively referred to herein as ‘Rights”). At December 31, 2019, the Company had one active equity incentive plan administered by the Board of Directors, the 2015 Stock Incentive Plan. The Company had 33,059 Rights issued and 1,916,507 Rights available for grants or awards under this plan. In addition to the 2015 Stock Incentive Plan, the Company has 38,250 Rights issued from the Cornerstone Bancshares, Inc. 2002 Long Term Incentive Plan, 51,750 Rights issued from the Cornerstone Non-Qualified Plan Options, and 13,599 Rights issued from the Capstone Stock Option Plan. These plans do not have any Rights available for future grants or awards. A summary of the status of these stock option plans is presented in the following table:
|  | Number |  | Weighted Average Exercisable Price
Outstanding at December 31, 2018 |  | 170,625 |  |  | $ | 10.61 |
Granted |  | — |  |  | — |
Exercised |  | (31,931) |  |  | 11.85 |
Forfeited |  | (2,036) |  |  | 12.20 |
Outstanding at December 31, 2019 |  | 136,658 |  |  | $ | 10.29 |
Exercisable at December 31, 2019 |  | 136,658 |  |  | $ | 10.29 |
|  | Number |  | Weighted Average Exercisable Price
Outstanding at December 31, 2017 |  | 316,574 |  |  | $ | 11.82 |
Granted |  | — |  |  | — |
Exercised |  | (132,783) |  |  | 11.39 |
Forfeited |  | (13,166) |  |  | 31.96 |
Outstanding at December 31, 2018 |  | 170,625 |  |  | $ | 10.61 |
Exercisable at December 31, 2018 |  | 157,218 |  |  | $ | 11.78 |
Stock Option Plans (continued): Information pertaining to options outstanding at December 31, 2019, is as follows:
|  | Options Outstanding |  |  |  |  |  | Options Exercisable |  |
|  |  |  | Weighted- Average Remaining |  | Weighted- Average |  |  |  | Weighted- Average
Exercise |  | Number |  | Contractual |  | Exercise |  | Number |  | Exercise
Prices |  | Outstanding |  | Life |  | Price |  | Exercisable |  | Price
$ | 6.60 |  |  | 25,000 |  |  | 1.9 years |  | $ | 6.60 |  |  | 25,000 |  |  | $ | 6.60 |
6.80 |  |  | 13,250 |  |  | 1.2 years |  | 6.80 |  |  | 13,250 |  |  | 6.80 |
9.48 |  |  | 21,000 |  |  | 2.9 years |  | 9.48 |  |  | 21,000 |  |  | 9.48 |
9.60 |  |  | 30,750 |  |  | 3.2 years |  | 9.60 |  |  | 30,750 |  |  | 9.60 |
11.76 |  |  | 13,599 |  |  | 0.7 years |  | 11.76 |  |  | 13,599 |  |  | 11.76 |
15.05 |  |  | 33,059 |  |  | 5.5 years |  | 15.05 |  |  | 33,059 |  |  | 15.05 |
Outstanding, end of year |  | 136,658 |  |  | 3.01 years |  | $ | 10.29 |  |  | 136,658 |  |  | $ | 10.29 |
The Company recognized stock option compensation expense of $121 thousand and $134 thousand for the periods ended December 31, 2019 and 2018, respectively. Stock appreciation rights compensation expense of $134 thousand and $34 thousand was recognized for the period ended December 31, 2019 and 2018, respectively. Direct stock grant expense issued to local advisory board members of $65 thousand and $9 thousand was included in salary and benefit expense for the period ended December 31, 2019 and 2018, respectively. The total fair value of shares underlying the options which vested during the periods ended December 31, 2019 and 2018, was $317 thousand and $244 thousand, respectively. The income tax benefit recognized for the exercise of options for the periods ended December 31, 2019 and 2018 was $61 thousand and $319 thousand respectively. The intrinsic value of options exercised during the periods ended December 31, 2019 and 2018 was $372 thousand and $1.5 million, respectively. The aggregate intrinsic value of total options outstanding and exercisable options at December 31, 2019 was $1.8 million. Cash received from options exercised under all share-based payment arrangements for the period ended December 31, 2019 was $374 thousand. Information related to non-vested options for the period ended December 31, 2019, is as follows:
|  | Number |  | Weighted Average Grant-Date Fair Value
Nonvested at December 31, 2018 |  | 13,407 |  |  | $ | 15.05 |
Granted |  | — |  |  | — |
Vested |  | (13,407) |  |  | 15.05 |
Forfeited/expired |  | — |  |  | — |
Nonvested at December 31, 2019 |  | — |  |  | $ | — |
As of December 31, 2019, all options are fully vested and currently no future compensation cost will be recognized related to nonvested stock-based compensation arrangements granted under the Plans. There were no stock options granted during the twelve months period ended December 31, 2019 and December 31, 2018. Restricted Stock Awards: A summary of the activity of the Company's unvested restricted stock awards for the year ended December 31, 2019 is presented below: The following table summarizes activity relating to non-vested restricted stock awards:
|  | Number |  | Weighted Average Grant-Date Fair Value
Nonvested at December 31, 2018 |  | 29,500 |  |  | $ | 24.38 |
Granted |  | 40,400 |  |  | 18.49 |
Vested |  | (3,000) |  |  | 20.90 |
Forfeited/expired |  | (1,500) |  |  | 18.12 |
Nonvested at December 31, 2019 |  | 65,400 |  |  | $ | 21.04 |
The Company measures the fair value of restricted shares based on the price of the Company’s common stock on the grant date, and compensation expense is recorded over the vesting period. For the years ended December 31, 2019 and 2018, compensation expense was $396 thousand and $263 thousand, respectively, for restricted stock awards. As of December 31, 2019, there was$844 thousand of unrecognized compensation cost related to non-vested restricted stock awards granted under the plan. The cost is expected to be recognized over a weighted average period of 3.18 years. The grant-date fair value of restricted stock grants vested was $63 thousand for the year ended December 31, 2019, no restricted stock vested during the year ended December 31, 2018.

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- Definition The entire disclosure for an entity's employee compensation and benefit plans, including, but not limited to, postemployment and postretirement benefit plans, defined benefit pension plans, defined contribution plans, non-qualified and supplemental benefit plans, deferred compensation, share-based compensation, life insurance, severance, health care, unemployment and other benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 712 -URI http://asc.fasb.org/topic&trid=2197446 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 710 -URI http://asc.fasb.org/topic&trid=2127225 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
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