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Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of stock-based compensation expense

Schedule of stock-based compensation expense
		For the years ended December 31,
(dollars in thousands)		2023				2022				2021
Stock option expense		$	528				927				1,148
Restricted stock grant expense			1,415				1,099				499
Total stock-based compensation expense		$	1,943				2,026				1,647

Schedule of the status of the stock option plan and changes

Schedule of the status of the stock option plan and changes
		For the years ended December 31,
		2023											2022											2021
		Shares				Weighted average exercise price				Weighted Average Remaining Contractual Life			Shares				Weighted average exercise price				Weighted Average Remaining Contractual Life			Shares				Weighted average exercise price				Weighted Average Remaining Contractual Life
Outstanding at beginning of year			427,224			$	34.32							464,724			$	33.97							495,195			$	29.93
Granted			-				-							-				-							121,000				40.45
Exercised			(27,250	)			20.18							(32,375	)			27.94							(127,871	)			23.56
Forfeited or expired			(68,625	)			34.15							(5,125	)			43.14							(23,600	)			38.88
Outstanding at end of year			331,349			$	35.51			4.9 years				427,224			$	34.32			5.7 years				464,724			$	33.97			6.6 years
Options exercisable at year-end			267,376			$	34.48			4.5 years				287,902			$	32.35			4.8 years				239,340			$	29.68			5.0 years
Weighted average fair value of options granted during the year						$	-										$	-										$	16.40
Shares available for grant			319,058											370,824											422,550

Schedule of assumptions used

Schedule of assumptions used

2023

2022

2021

Dividend yield-

-n/a

n/a

-

Expected life

n/a

n/a

7 years

Expected volatility

n/a

n/a

38.48

%

Risk-free interest rate

n/a

n/a

0.74

%

Schedule of the status of the company's nonvested restricted stock and changes

Schedule of the status of the company's nonvested restricted stock and changes
		December 31,
		2023								2022								2021
		Restricted Shares				Weighted Average Grant-Date Fair Value				Restricted Shares				Weighted Average Grant-Date Fair Value				Restricted Shares				Weighted Average Grant-Date Fair Value
Nonvested at beginning of year			80,337			$	52.53				41,699			$	44.71				26,099			$	38.05
Granted			69,880				37.12				53,376				56.25				26,450				48.56
Vested			(21,695	)			48.95				(14,213	)			43.26				(9,600	)			38.03
Forfeited			(18,989	)			46.83				(525	)			61.14				(1,250	)			38.56
Nonvested at end of year			109,533			$	44.40				80,337			$	52.53				41,699			$	44.71

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Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

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