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Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Stock option activity

A summary of the activity of the Company’s stock options for the nine months September 30, 2024 follows: 

						Number of Shares						Weighted Average Exercise Price
Options outstanding at December 31, 2023						—						$	—
Options issued at acquisition						390,462						13.23
Options granted						—						—
Options exercised						(8,335)						12.34
Options expired						(38,710)						12.01
Options outstanding at September 30, 2024						343,417						$	13.39

Information related to the stock option plan

Information related to the stock option plan is as follows (in thousands):

						For the Three Months Ended September 30,												For the Nine Months  Ended September 30,
						2024						2023						2024						2023
Intrinsic value of options exercised						$	26					$	—					$	51					$	—
Cash received from options exercised						40						—						103						—
Excess tax expense realized for option exercises						8						—						14						—

						Currently Exercisable						Currently Not Exercisable						Total Outstanding
Number of options						343,417						—						343,417
Weighted average exercise price						$	13.39					$	—					$	13.39
Intrinsic value (in thousands)						$	2,010					$	—					$	2,010
Weighted average remaining contractual term (yrs.)						4.10						—						4.10

Restricted common stock activity

The following table summarizes restricted stock activity for the nine months ended September 30, 2024 as follows:

						Shares						Weighted Average Grant-Date Fair Value
Nonvested outstanding shares at December 31, 2023						75,133						$	15.65
Granted						72,360						16.93
Vested						(46,339)						15.02
Forfeited						(695)						15.60
Nonvested outstanding shares at September 30, 2024						100,459						$	16.86

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Tabular disclosure of share-based payment arrangement.

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-Name Accounting Standards Codification
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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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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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