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Stock-Based Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Compensation Expense
The Company recorded the following stock compensation expense in its consolidated statements of income (in thousands):
Years Ended December 31,
202420232022
Stock option grants$78 60 69 
Restricted stock awards1,279 1,028 800 
Employee stock grant— 50 50 
Annual director stock award600 600 650 
$1,957 1,738 1,569 
Schedule Changes in Outstanding Options
A summary of changes in outstanding options is presented below (in thousands, except share and per share amounts):
OptionsNumber
of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Term (yrs)
Weighted
Average
Grant Date
Fair Value(000's)
Outstanding at
January 1, 2022209,510$18.97 4.8$1,416 
Exercised(32,920)$12.54 $(145)
Outstanding at
December 31, 2022176,590$20.17 4.4$1,271 
Exercised(49,710)$20.61 $(290)
Outstanding at
December 31, 2023126,880$20.00 3.5$981 
Granted32,530$31.44 9.0$400 
Exercised(16,420)$13.48 $(100)
Outstanding at
December 31, 2024142,990$23.35 4.2$1,281 
Exercisable at
December 31, 2024113,510$21.25 3.0$918 
Vested during twelve months ended
December 31, 20243,050$37 
Schedule of Stock Options Outstanding
The following table summarizes information concerning stock options outstanding at December 31, 2024:
Range of Exercise
Prices per Share
Shares
under
Option
Weighted
Average
Exercise Price
Weighted
Average
Remaining Life
$15.57 - $18.7614,84015.58 0.9
$18.77 - $22.2424,00019.23 2.0
$22.25 - $22.9971,62022.66 3.5
$23.00 - $31.4432,53031.44 9.0
Total142,990$23.35 4.2Years
Schedule 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):
Restricted stockNumber
Of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Term (yrs)
Weighted
Average
Grant Date
Fair Value(000's)
Non-vested at January 1, 202292,148$22.94 3.1$2,114 
Time-based awards granted14,89628.90 431 
Performance-based awards granted28,03228.90 810 
Forfeited(2,726)23.15 (63)
Vested(31,358)23.78 (746)
Non-vested at December 31, 2022100,992$25.21 3.0$2,546 
Time-based awards granted15,96026.93 430 
Performance-based awards granted34,60826.96 933 
Vested(42,106)24.03 (1,012)
Non-vested at December 31, 2023109,454$26.47 2.8$2,897 
Time-based awards granted12,78031.30 400 
Performance-based awards granted29,89031.06 928 
Vested(49,446)48.06 (1,305)
Non-vested at December 31, 2024102,678$28.44 2.7$2,920