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Stock-Based Compensation (Tables)
6 Months Ended
Jun. 30, 2018
Stock-Based Compensation [Abstract]  
Schedule of Stock-Based Compensation

The following tables provide information on stock-based compensation expense for the three and six months ended June 30, 2018 and 2017.

 





 

 

 

 

 

 

 

 

 

 

 

 

 



 

For Three Months Ended

 

 

For Six Months Ended



 

June 30,

 

 

June 30,

(Dollars in thousands)

 

2018

 

2017

 

 

2018

 

2017

Stock-based compensation expense

 

$

163 

 

$

173 

 

 

$

306 

 

$

590 

Excess tax benefits related to stock-based

 

 

 

 

 

 

 

 

 

 

 

 

 

compensation

 

 

11 

 

 

11 

 

 

 

146 

 

 

13 

 





 

 

 

 

 

 

 

 



 

As of



 

June 30,

(Dollars in thousands)

 

2018

 

2017

Unrecognized stock-based compensation

 

 

 

 

 

 

 

 

expense

 

$

677 

 

 

$

354 

 

Weighted average period unrecognized

 

 

 

 

 

 

 

 

expense is expected to be recognized

 

 

1.0 

years

 

 

1.1 

years



Schedule of Share-based Compensation, Restricted Stock Units Award Activity

The following table summarizes restricted stock award activity for the Company under the 2016 Equity Plan for the six months ended June 30, 2018.

 



 



 

 

 

 

 

 



 

Six Months Ended June 30, 2018

 



 

 

 

Weighted Average 

 



 

Number of

 

Grant Date

 



 

Shares

 

Fair Value

 

Nonvested at beginning of period

 

15,913 

 

$

15.39 

 

Granted

 

13,511 

 

 

18.68 

 

Vested

 

(19,491)

 

 

16.00 

 

Cancelled

 

 -

 

 

 -

 

Nonvested at end of period

 

9,933 

 

$

14.75 

 





Schedule of Share-based Compensation, Restricted Stock Award Activity

The following table summarizes restricted stock units activity based on management’s evaluation of the probable number of common stock awards to be issued at the end of the performance cycle for the Company under the 2016 Equity Plan for the six months ended June 30, 2018.



 



 



 

 

 

 

 

 



 

Six Months Ended June 30, 2018

 



 

 

 

Weighted Average 

 



 

Number of

 

Grant Date

 



 

Shares

 

Fair Value

 

Outstanding at beginning of period

 

90,266 

 

$

12.08 

 

Granted

 

26,381 

 

 

17.36 

 

Vested

 

(40,423)

 

 

9.49 

 

Forfeited

 

(16,308)

 

 

11.68 

 

Outstanding at end of period

 

59,916 

 

$

15.38 

 



Schedule of Share-based Compensation, Stock Options Activity

The following table summarizes stock option activity for the Company under the 2016 Equity Plan for the six months ended June 30, 2018.







 

 

 

 

 

 



 

Six Months Ended June 30, 2018

 



 

 

 

Weighted Average 

 



 

Number of

 

Grant Date

 



 

Shares

 

Exercise Price

 

Outstanding at beginning of period

 

62,429 

 

$

8.48 

 

Granted

 

 -

 

 

 -

 

Exercised

 

(35,180)

 

 

7.54 

 

Expired/Cancelled

 

 -

 

 

 -

 

Outstanding at end of period

 

27,249 

 

$

9.68 

 



 

 

 

 

 

 

Exercisable at end of period

 

27,249 

 

$

9.68 

 



Schedule of Share-based Payment Award, Stock Option Valuation Assumptions

The following weighted average assumptions were used as inputs to the Black-Scholes valuation model for options granted in 2017.









 

 

 



 

2017

Dividend yield

 

0.84 

%

Expected volatility

 

64.80 

%

Risk-free interest rate

 

2.42 

%

Expected contract life (in years)

 

10 years