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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
Schedule of RSA activity | The following table presents RSA activity as of and for the periods stated.
|  | Shares |  |  | Weighted Average Fair Value per RSA |
RSA unvested and outstanding, January 1, 2020 |  |  | 94,762 |  |  | $ | 12.17 |
Granted |  |  | 120,429 |  |  |  | 10.41 |
Vested |  |  | (36,216 | ) |  |  | 12.14 |
Forfeited |  |  | (30,375 | ) |  |  | 12.43 |
RSA unvested and outstanding, December 31, 2020 |  |  | 148,600 |  |  | $ | 10.70 |
Granted |  |  | 174,634 |  |  |  | 17.35 |
Vested |  |  | (85,037 | ) |  |  | 12.28 |
Forfeited |  |  | (20,013 | ) |  |  | 13.45 |
RSA unvested and outstanding, December 31, 2021 |  |  | 218,184 |  |  | $ | 15.15 |
Summary of Assumptions to Determine Estimated Fair Value of Converted Stock Options | The following table presents the ranges and weighted averages of assumptions used to determine the estimated fair value of the converted stock options in the Bay Banks Merger.
|  | As of January 31, 2021
|  | Range |  | Weighted Average
Risk free interest rate (U.S. Treasury) |  | 0.06% - 0.45% |  | 0.32%
Expected term (years) |  | 0.14 - 5.00 |  | 3.89
Expected volatility |  | 21.2% - 38.2% |  | 32.8%
Expected dividend yield |  | 2.85% |  | 2.85%
Summary of Stock Option Activity | The following table presents stock option activity for the periods presented.
|  | Shares |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Aggregate Intrinsic Value (1) |
Options outstanding and exercisable, January 1, 2021 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Assumed in Bay Banks Merger |  |  | 148,758 |  |  | $ | 9.89 |  |  |  | 5.47 |  |  |  |
Granted |  |  | — |  |  |  | — |  |  |  |  |  |  |
Forfeited |  |  | (808 | ) |  |  | 13.80 |  |  |  |  |  |  |
Exercised |  |  | (89,786 | ) |  |  | 9.99 |  |  |  |  |  |  |
Expired |  |  | (557 | ) |  |  | 6.47 |  |  |  |  |  |  |
Options outstanding and exercisable, December 31, 2021 |  |  | 57,607 |  |  | $ | 11.75 |  |  |  | 6.18 |  |  | $ | 354,269 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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