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Stock-Based Compensation (Tables)

12 Months Ended

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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- References

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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
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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.

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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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