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Stock-Based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2019
Share-based Payment Arrangement [Abstract] |
Schedule of stock-based compensation expense | Stock-based compensation expense was recorded as follows:
|  | For the years ended December 31,
(dollars in thousands) |  | 2019 |  | 2018 |  | 2017
Stock option expense |  | $ | 1,270 |  | 1,183 |  | 959
Restricted stock grant expense |  |  | 428 |  | 319 |  | 299
Total stock-based compensation expense |  | $ | 1,698 |  | 1,502 |  | 1,258
Summary of the status of the stock option plan and changes | A summary of the status of the stock option plan and changes for the period is presented below:
|  | For the years ended December 31,
|  |  |  |  |  |  |  | 2019 |  |  |  |  |  |  |  | 2018 |  |  |  |  |  |  |  | 2017
|  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  | Weighted |  |  |  |  |  |  |  | Weighted
|  |  |  |  | Weighted |  | Average |  |  |  |  | Weighted |  | Average |  |  |  |  | Weighted |  | Average
|  |  |  |  | average |  | Remaining |  |  |  |  | average |  | Remaining |  |  |  |  | average |  | Remaining
|  |  |  |  | exercise |  | Contractual |  |  |  |  | exercise |  | Contractual |  |  |  |  | exercise |  | Contractual
|  | Shares |  |  | price |  | Life |  | Shares |  |  | price |  | Life |  | Shares |  |  | price |  | Life
Outstanding at beginning of year |  | 648,311 |  |  | $ | 20.74 |  |  |  | 662,841 |  |  | $ | 15.70 |  |  |  | 642,203 |  |  | $ | 11.77 |  |
Granted |  | 101,350 |  |  |  | 32.81 |  |  |  | 94,700 |  |  |  | 43.13 |  |  |  | 110,950 |  |  |  | 35.34 |  |
Exercised |  | (191,497 | ) |  |  | 9.24 |  |  |  | (105,630 | ) |  |  | 8.51 |  |  |  | (74,437 | ) |  |  | 9.48 |  |
Forfeited or expired |  | (16,750 | ) |  |  | 34.01 |  |  |  | (3,600 | ) |  |  | 40.03 |  |  |  | (15,875 | ) |  |  | 23.49 |  |
Outstanding at end of year |  | 541,414 |  |  | $ | 26.65 |  | 6.3 years |  | 648,311 |  |  | $ | 20.74 |  | 5.6 years |  | 662,841 |  |  | $ | 15.70 |  | 5.6 years
Options exercisable at year-end |  | 305,991 |  |  | $ | 20.00 |  | 4.9 years |  | 404,851 |  |  | $ | 12.58 |  | 4.0 years |  | 419,766 |  |  | $ | 9.20 |  | 4.1 years
Weighted average fair value of options granted during the year |  |  |  |  | $ | 11.81 |  |  |  |  |  |  | $ | 16.76 |  |  |  |  |  |  | $ | 14.14 |  |
Shares available for grant |  | 183,990 |  |  |  |  |  |  |  | 270,090 |  |  |  |  |  |  |  | 359,690
Schedule of assumptions used | The fair value of the option grant is estimated on the date of grant using the Black-Scholes option-pricing model. The following assumptions were used for grants:
|  | 2019 |  | 2018 |  | 2017
Dividend yield |  | - |  | - |  | -
Expected life |  | 7 years |  | 7 years |  | 7 years
Expected volatility |  | 28.21% |  | 32.07% |  | 34.63%
Risk-free interest rate |  | 2.59% |  | 2.50% |  | 2.04%
Summary of the status of the Company's nonvested restricted stock and changes | A summary of the status of the Company’s nonvested restricted stock and changes for the years ended December 31, 2019, 2018, and 2017 is as follows:
|  | December 31,
|  |  |  |  | 2019 |  |  |  |  | 2018 |  |  |  |  | 2017
|  |  |  |  | Weighted |  |  |  |  | Weighted |  |  |  |  | Weighted
|  |  |  |  | Average |  |  |  |  | Average |  |  |  |  | Average
|  | Restricted |  |  | Grant-Date |  | Restricted |  |  | Grant-Date |  | Restricted |  |  | Grant-Date
|  | Shares |  |  | Fair Value |  | Shares |  |  | Fair Value |  | Shares |  |  | Fair Value
Nonvested at beginning of year |  | 29,625 |  |  | $ | 34.00 |  | 25,000 |  |  | $ | 26.43 |  | 36,125 |  |  | $ | 20.13
Granted |  | 14,700 |  |  |  | 33.64 |  | 13,000 |  |  |  | 42.87 |  | 6,500 |  |  |  | 35.14
Vested |  | (10,375 | ) |  |  | 31.61 |  | (8,375 | ) |  |  | 25.17 |  | (17,625 | ) |  |  | 16.73
Forfeited |  | (1,125 | ) |  |  | 28.03 |  | - |  |  |  | - |  | - |  |  |  | -
Nonvested at end of year |  | 32,825 |  |  | $ | 34.78 |  | 29,625 |  |  | $ | 34.00 |  | 25,000 |  |  | $ | 26.43

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