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Stock Options Restricted Stock (Tables)

12 Months Ended

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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Tabular disclosure of the changes in outstanding nonvested shares.

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Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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