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Stock-Based Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Stock Compensation Expense

The Company recorded the following Stock Compensation Expense in its consolidated statements of income (in thousands):

		Three Months ended								Nine Months ended
		September 30,								September 30,
		2021				2020				2021				2020
Stock option grants		$	17				24				52				71
Restricted stock awards			135				46				404				140
Employee stock grant			—				—				50				530
Annual director stock award			—				—				500				500
Stock compensation			$	152				70				1,006				1,241

Summary of changes in outstanding options

A Summary of changes in outstanding options is presented below (in thousands, except share and per share amounts):

						Weighted				Weighted		Weighted
		Number				Average				Average		Average
		Of				Exercise				Remaining		Grant Date
Options		Shares				Price				Term (yrs)		Fair Value(000's)
Outstanding at December 31, 2020			120,089			$	35.33			5.3		$	1,531
Exercised			(15,334	)		$	17.54					$	(115	)
Outstanding at September 30, 2021			104,755			$	37.93			5.1		$	1,416
Exercisable at September 30, 2021			92,407			$	36.87			4.8		$	1,212
Vested during nine months ended September 30, 2021			—									$	—

Summary of changes in restricted stock awards

A Summary of changes in restricted stock awards is presented below (in thousands, except share and per share amounts):

						Weighted				Weighted		Weighted
		Number				Average				Average		Average
		Of				Exercise				Remaining		Grant Date
Restricted stock		Shares				Price				Term (yrs)		Fair Value(000's)
Non-vested at December 31, 2020			20,520			$	46.30			3.4		$	950
Time-based awards granted			8,896				45.55						405
Performance-based awards granted			18,882				45.55						860
Non-vested at September 30, 2021			48,298			$	45.87			3.3		$	2,215

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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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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-Name Accounting Standards Codification
-Topic 718
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-Name Accounting Standards Codification
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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