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Stock Options Restricted Stock (Tables) | 12 Months Ended
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Dec. 31, 2024
Stock Options and Restricted Stock |
Summary of weighted average assumptions used in the model for valuing stock option grants | The weighted average assumptions used in the model for valuing stock option grants in 2024 is as follows:
​ | ​ | ​ | ​
​ | ​ | December 31, | ​
​ |  | 2024 |
Dividend Yield |  | — | %
Expected Life |  | 7 | Years
Expected Volatility |  | 30.32 | %
Risk-Free Interest Rate |  | 3.89 | %
Summary of the status of the Company's outstanding stock options | The following table presents a summary of the status of the Company’s outstanding stock options for the years ended December 31, 2024 and 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | December 31, 2023
​ |  |  |  | Weighted |  |  |  | Weighted
​ | ​ | ​ | ​ | Average | ​ | ​ | ​ | Average
​ | ​ | Shares | ​ | Exercise Price | ​ | Shares | ​ | Exercise Price
Outstanding at Beginning of Year |  | 2,014,994 | ​ | $ | 10.57 |  | 1,913,444 | ​ | $ | 9.35
Granted |  | 10,000 | ​ |  | 13.17 |  | 421,500 | ​ |  | 10.84
Exercised |  | (99,385) | ​ |  | 7.68 |  | (305,950) | ​ |  | 3.15
Forfeitures |  | (65,000) | ​ |  | 11.81 |  | (14,000) | ​ |  | 14.63
Outstanding at Period End |  | 1,860,609 | ​ | $ | 10.69 |  | 2,014,994 | ​ | $ | 10.57
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Options Exercisable at Period End |  | 1,423,108 | ​ | $ | 9.95 |  | 1,348,744 | ​ | $ | 9.36
Summary of information pertaining to options outstanding based on range of exercise price | The following table presents information pertaining to options outstanding at December 31, 2024:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Options Outstanding | ​ | Options Exercisable
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted Average | ​ | ​ | ​ | ​
​ | ​ | ​ | Number of | ​ | Weighted Average | ​ | Remaining Contractual | ​ | Number of | ​ | Weighted Average
Range of Exercise Prices |  | Options |  | Exercise Price | ​ | Life in Years | ​ | Options |  | Exercise Price
$ | 7.00 - 7.99 |  | 827,120 |  | ​ | 7.47 |  | 2.7 |  | 827,120 |  | ​ | 7.47
​ | 8.00 - 8.99 |  | 7,461 |  | ​ | 8.76 |  | 5.2 |  | 7,461 |  | ​ | 8.76
​ | 10.00 - 10.99 | ​ | 221,500 | ​ | ​ | 10.62 | ​ | 8.4 | ​ | 57,249 | ​ | ​ | 10.55
​ | 11.00 - 11.99 | ​ | 240,500 | ​ | ​ | 11.16 | ​ | 7.3 | ​ | 122,375 | ​ | ​ | 11.22
​ | 12.00 - 12.99 | ​ | 263,528 | ​ | ​ | 12.90 | ​ | 4.6 | ​ | 263,528 | ​ | ​ | 12.90
​ | 13.00 - 13.99 | ​ | 10,000 | ​ | ​ | 13.17 | ​ | 9.6 | ​ | — | ​ | ​ | —
​ | 17.00 - 17.99 | ​ | 290,500 | ​ | ​ | 17.50 | ​ | 7.1 | ​ | 145,375 | ​ | ​ | 17.50
​ | Totals |  | 1,860,609 | ​ | $ | 10.69 | ​ | 5.0 |  | 1,423,108 | ​ | $ | 9.95
Summary of analysis of nonvested options to purchase shares of the Company's stock issued and outstanding | The following table presents an analysis of nonvested options to purchase shares of the Company’s stock issued and outstanding for the year ended December 31, 2024:
​ | ​ | ​ | ​ | ​ | ​
​ |  |  |  | Weighted
​ | ​ | Number of | ​ | Average Grant
​ | ​ | Shares | ​ | Date Fair Value
Nonvested Options at December 31, 2023 |  | 666,250 | ​ | $ | 5.09
Granted |  | 10,000 | ​ | ​ | 5.35
Vested |  | (198,749) | ​ | ​ | 4.97
Forfeited | ​ | (40,000) | ​ | ​ | 4.88
Nonvested Options at December 31, 2024 |  | 437,501 | ​ | $ | 5.18
Summary of the status of the Company's outstanding restricted stock awards | The following table presents an analysis of nonvested restricted stock awards outstanding for the years ended December 31, 2024 and 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | December 31, 2023
​ |  |  |  | Weighted |  |  |  | Weighted
​ | ​ | Number of | ​ | Average Grant | ​ | Number of | ​ | Average Grant
​ | ​ | Shares | ​ | Date Fair Value | ​ | Shares | ​ | Date Fair Value
Nonvested at December 31, 2023 |  | 3,411 | ​ | $ | 10.53 | ​ | 38,762 | ​ | $ | 12.50
Granted |  | — | ​ | ​ | — | ​ | — | ​ | ​ | —
Vested |  | (3,411) | ​ | ​ | 10.53 | ​ | (35,101) | ​ | ​ | 12.69
Forfeited | ​ | — | ​ | ​ | — | ​ | (250) | ​ | ​ | 12.92
Nonvested at December 31, 2024 |  | — | ​ | $ | — | ​ | 3,411 | ​ | $ | 10.53
Summary of the status of the Company's outstanding restricted stock units | The following table presents an analysis of nonvested restricted stock units outstanding for the years ended December 31, 2024 and 2023:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 | ​ | December 31, 2023
​ |  |  |  | Weighted |  |  |  | Weighted
​ | ​ | Number of | ​ | Average Grant | ​ | Number of | ​ | Average Grant
​ | ​ | Shares | ​ | Date Fair Value | ​ | Shares | ​ | Date Fair Value
Nonvested at December 31, 2023 |  | 441,015 | ​ | $ | 14.71 | ​ | 351,310 | ​ | $ | 16.30
Granted |  | 178,010 | ​ | ​ | 14.06 | ​ | 221,561 | ​ | ​ | 12.77
Vested |  | (160,630) | ​ | ​ | 14.67 | ​ | (121,603) | ​ | ​ | 15.53
Forfeited | ​ | (42,637) | ​ | ​ | 14.59 | ​ | (10,253) | ​ | ​ | 17.79
Nonvested at December 31, 2024 |  | 415,758 | ​ | $ | 14.46 | ​ | 441,015 | ​ | $ | 14.71

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