v3.24.1.u1

Share-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary of Share-Based Compensation Expense

The following table presents share-based compensation expense and the related tax benefits for the periods indicated:

						Three Months Ended March 31,
($ in thousands)						2024						2023
Share-based compensation expense related to:
Stock options						$	72					$	36
Restricted stock awards						64						84
Total share-based compensation expense						$	136					$	120
Related tax benefits						$	34					$	25

The following table presents unrecognized share-based compensation expense as of the date indicated:

March 31, 2024

($ in thousands)

Unrecognized Expense

Weighted-Average Remaining Expected Recognition Period

Unrecognized share-based compensation expense related to:

Stock options

$

712

2.6 years

Restricted stock awards

397

2.5 years

Total unrecognized share-based compensation expense

$

1,109

2.6 years

Summary of Stock Options

The following tables represent stock option activity for the periods indicated:

						Three Months Ended March 31, 2024
($ in thousands except per share data)						Number of Shares						Weighted-Average Exercise Price Per Share						Weighted-Average Contractual Term						Aggregated Intrinsic Value
Outstanding at beginning of period						614,715						$	13.90					5.7 years						$	2,788
Exercised						(3,351)						$	10.33					1.6 years
Outstanding at end of period						611,364						$	13.91					5.5 years						$	1,477
Exercisable at end of period						356,364						$	12.49					2.8 years						$	1,368

The following table represents information regarding unvested stock options for the periods indicated:

						Three Months Ended March 31,
						Number of Shares						Weighted-Average Exercise Price Per Share
Outstanding at beginning of period						271,000						$	15.85
Vested						(16,000)						$	14.96
Outstanding at end of period						255,000						$	15.90

Summary of Restricted Stock Awards

The following table represents restricted stock award activity for the periods indicated:

						Three Months Ended March 31,
						Number of Shares						Weighted-Average Grant Date Fair Value Per Share
Outstanding at beginning of period						41,661						$	17.53
Vested						(16,261)						$	13.93
Outstanding at end of period						25,400						$	19.84

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Tabular disclosure of the changes in outstanding nonvested restricted stock shares.

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-Name Accounting Standards Codification
-Section 50
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Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

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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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